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FxPro Forex Analysis: CHFJPY Wave Analysis – 17 July , 2018

CHFJPY broke resistance zone
• Likely to rise further

CHFJPY recently broke through the resistance zone lying between the key resistance level 112.00 (which has reversed the price multiple times from March) and 38.2% Fibonacci correction of the previous downward impulse (3) from February.

The breakout of this resistance zone accelerated the active short-term impulse wave C from last month.

CHFJPY is likely to rise further and re-test the next resistance level 113.50 (forecast price for the termination of the active wave (4)).

CHFJPY - Primary Analysis - Jul-17 1711 PM (1 day)