CHFJPY Wave Analysis – 5 August, 2022

• CHFJPY reversed from support level 138.80

• Likely to rise to resistance level 142.00

CHFJPY recently reversed up from the support level 138.80, strengthened by the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse wave 1 from June.

The upward reversal from the support level 138.80 started the active impulse wave 3.

CHFJPY can be expected to rise toward the next resistance level 142.00 (which has been reversing the pair from the end of June).