CHFJPY Wave Analysis – 3 January, 2023

• CHFJPY broke support level 141.00

• Likely to fall to support level 138.00

CHFJPY continues to fall after the earlier breakout of the key support level 141.00 (which stopped the previous sharp impulse wave 1 in December).

The breakout of the support level 141.00 coincided with the breakout of the daily down channel from the middle of September.

CHFJPY can be expected to fall further toward the next support level 138.00 (former support from the start of August).