CHFJPY Wave Analysis – 30 August, 2022

• CHFJPY reversed from resistance level 143.00

• Likely to fall to support level 141.35

CHFJPY currency pair recently reversed down from the key resistance level 143.00 (which stopped the previous impulse waves (5) and (B)) intersecting with the upper daily Bollinger Band.

The downward reversal from the resistance level 143.00 stopped the earlier short-term impulse wave 3.

Given strength of the nearby resistance level 143.00 and the overbought daily Stochastic, CHFJPY can be expected to fall further toward the next support level 141.35 (low of the previous wave 2).