CHFJPY currency pair can be expected to fall further to the next support level 189.25 (target price for the completion of the active intermediate impulse wave (C))
- CHFJPY broke support zone
- Likely to fall to support level 189.25
CHFJPY currency pair falling sharply after the price previously broke through the support zone lying at the intersection of the zone level 192.80 (which has been reversing the price from last November, as can be seen from the daily CHFJPY chart below) and the support trendline of the daily down channel from the start of June. The breakout of this support zone accelerated the active minor impulse wave 3 of the intermediate impulse wave (C) from the end of August.
Given the strongly bullish yen sentiment seen across the FX markets today, CHFJPY currency pair can be expected to fall further to the next support level 189.25 (target price for the completion of the active intermediate impulse wave (C)).
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