CHFJPY Wave Analysis 24 November, 2020

• CHFJPY reversed from key support level 113.80

• Likely to rise to 115.00

CHFJPY previously reversed up from the key support level 113.80 (low of the previous minor correction (a)) – strengthened by the lower daily Bollinger Band.

The upward reversal from the support level 113.80 started the active short-term impulse wave 3 – which belongs to wave (3) from September.

CHFJPY is likely to rise further toward the next resistance level 115.00. Strong support remains at the support level 113.80.