• 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)).