CHFJPY Wave Analysis – 25 August, 2020

• CHFJPY reversed from support area

• Likely to rise to 117.65

CHFJPY recently reversed up from the support area lying between the support level 115.60 (former resistance from July) and the 38.2% Fibonacci correction of the upward impulse from July.

The upward reversal from this support area started the active short-term impulse wave (v).

CHFJPY is likely to rise further toward the next resistance level 117.65 (top of the previous minor impulse wave (iii)).