CHFJPY Wave Analysis 18 March, 2021

• CHFJPY reversed from resistance area

• Likely to reach support level 117.00

CHFJPY currency pair recently reversed down sharply from the resistance area lying between the resistance level 118.00 and the upper daily Bollinger Band.

The downward reversal from this resistance zone stopped the previous minor impulse wave 3.

Given the strongly bearish Swiss franc sentiment seen today – CHFJPY is likely to fall further toward the next support level 117.00.