September 07, 2020 at 03:30PM

• CHFJPY reversed from resistance level 117,50

• Likely to fall to 115,50

CHFJPY recently reversed down from the resistance level 117,50 (top of the previous impulse wave (iii)) – stranding near the upper daily Bollinger Band.

The downward reversal from the resistance level 117,50 started the active short-term ABC correction (iv).

CHFJPY is likely to fall further toward the next support level 115,50 (target price for the completion of the active wave (iv)).

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From: The FxPro Tech Analysis Team
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