CHFJPY Wave Analysis 5 October, 2020
October 05, 2020 @ 17:50 +03:00
• CHFJPY broke resistance area
• Likely to rise to 116.00
CHFJPY recently broke the resistance area lying between the resistance level 115.00 and the 38.2% Fibonacci correction of the previous sharp downward impulse wave C,.
The breakout of this resistance area accelerated the active medium-term upward impulse sequence (3).
Given the clear uptrend, strong Swiss franc bullishness seen today – CHFJPY is likely to rise further toward the next resistance level 116.00.