FBS - Analytics

    FBS

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    CHF/JPY broke support level 109.00

    CHF/JPY recently broke sharply through the support level 109.00 – which previously reversed the price sharply at the start of June as you can see from the daily CHF/JPY chart below. The breakout of this support level accelerated the active minor impulse wave 3, which belongs to the extended intermediate downward impulse wave (C) from May of last year.

    CHF/JPY is expected to fall further to the next sell target at the support level 107.00 (forecast price calculated for the completion of the active minor impulse wave 3). Strong resistance now stands at 109.00.


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