CHFJPY Wave Analysis – 29 June, 2021

• CHFJPY reversed from resistance area

• Likely to fall to support level 119.00

CHFJPY currency pair recently reversed down from the resistance area lying between the resistance level 121.00 intersecting with the 50% Fibonacci correction of the downward impulse (c) from the middle of June.

The downward reversal from this resistance area created the daily candlesticks reversal pattern Evening Star.

CHFJPY can be expected to fall further toward the next support level 119.00 (low of the previous ABC correction 2).