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CHF/JPY Wave Analysis – 28 August , 2018

CHF/JPY rising inside impulse wave 3
• Further gains are likely

CHF/JPY continues to rise inside the short-term impulse wave 3 – which previously broke through the major resistance level 113.00 (which has been reversing the price from the start of March) and the 50% Fibonacci correction of the downward correction (C) from February.

The breakout of this resistance level accelerated the active medium-term impulse wave (3) which belongs to the long-term impulse wave ③ from the start of May.

CHF/JPY is expected to rise further and retest the next resistance level 115.00 (target price for the completion of the active impulse wave 3).

CHFJPY - Primary Analysis - Aug-28 1914 PM (1 day)

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