• 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).