CHFJPY: ⬆️ Buy
- CHFJPY reversed from support area
- Likely to rise to resistance level 198.50
CHFJPY currency pair recently reversed from the support area between the pivotal support level 196.00 (former resistance from November and December) and the 38.2% Fibonacci correction of the upward impulse from November.
The upward reversal from this support area continues the active intermediate impulse wave (3).
Given the strong daily uptrend and bullish Swiss franc sentiment seen today, CHFJPY currency pair can be expected to rise to the next resistance level 198.50 (top of the previous impulse wave 1).
 and the 38.2% Fibonacci correction of the upward impulse from November.){kind=link}