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CHFJPY Wave Analysis – 21 September , 2018

CHFJPY broke key resistance level 117.00
• Further gains are likely

CHFJPY continues to rise after the earlier breakout of the key resistance level 117.00 – which accelerated the active short-term impulse wave 3 from the start of September.

The active impulse wave 3 is a part of the medium-term impulse wave (3) from the start of August – which , in turn, belongs to the long-term upward impulse sequence ③ from the start of May.

CHFJPY is expected to rise further and retest the next long-term resistance level 118.50 (top of the previous medium-term correction (B) from the start of February).

CHFJPY - Primary Analysis - Sep-21 1444 PM (1 day)

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