CHFJPY Wave Analysis 18 September, 2020

• CHFJPY broke support zone

• Likely to fall to 114.00

CHFJPY recently broke through the support zone located between the key support level 115.50 (which has been steadily reversing the price from the start of August) and the 50% Fibonacci retracement of the previous upward impulse from July.

The breakout of this support zone accelerated the active short-term impulse wave (iv).

CHFJPY is likely to fall further toward the next support level 114.00 (target price for the completion of the active wave (iv)).