CHF/JPY: sell target - 120.00
By: Dmitriy Chernovolov
- CHF/JPY broke pivotal support level 121.30
- Next sell target - 120.00
CHF/JPY has been falling sharply in the last few trading sessions – following the earlier breakout of the pivotal support level 121.30 (which also previous stopped the sharp minor impulse wave 1, as you can see below). The breakout of this support level intensified the bearish pressure on this currency pair – accelerating the active minor impulse wave 3 – which is a part of the intermediate impulse wave (3) from October.
CHF/JPY is expected is fall further in the active impulse waves 3 and (3) toward the next sell target at the round support level 120.00 (which reversed the previous sharp wave Ⓐ in March). Strong resistance remains at 121.30.