CHFJPY Wave Analysis – 17 December, 2021

• CHFJPY reversed from pivotal resistance level 123.50

• Likely to fall to support level 122.50

CHFJPY currency pair today reversed down from the pivotal resistance level 123.50 (which has been reversing the price from the end of October), intersecting with the upper daily Bollinger band.

The downward reversal from the resistance level 123.50 stopped the previous intermediate ABC correction (B).

CHFJPY can be expected to fall further toward the next support level 122.50 (which stopped the previous waves 3 , 5 and B).