CHF/JPY broke resistance zone

CHF/JPY broke resistance zone

  • CHF/JPY broke resistance zone
  • Next buy target - 112.30

 CHF/JPY recently broke the resistance zone lying at the intersection of the resistance trendline of the daily down channel from March and the resistance level 111.50 (top of the previous minor correction (iv)). The breakout of this resistance zone accelerated the active corrective wave 2. CHF/JPY is expected to rise further toward the next buy target at the next resistance level 112.30 (top of wave (2) and the target for the completion of wave 2).

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