CHFJPY Wave Analysis – 9 December, 2021

• CHFJPY reversed from key support level 122.40

• Likely to rise to resistance level 123.60

CHFJPY currency pair recently reversed up from the key support level 122.40 (former multi-month resistance from July) – intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from October.

The upward reversal from the support level 122.40 started the active short-term impulse wave C.

CHFJPY can be expected to rise further toward the next resistance level 123.60 (which reversed the price multiple times from the end of November).