CHFJPY Wave Analysis – 28 December , 2018

• CHFJPY reversed from key support level 111.60
• Further gains are likely

CHFJPY continues to rise after the earlier upward reversal from the key support level 111.60 (which also reversed the A-wave of the previous medium-term ABC correction (D) in October).

The upward reversal from the support level 111.60 created the daily Japanese candlesticks reversal pattern Hammer (similar to the Hammer the price created in October).

CHFJPY is expected to rise further and re-test the next resistance level 113.00 (former support from the start of December).