CHF/JPY falling inside minor impulse wave 5
- CHF/JPY falling inside minor impulse wave 5
- Next sell target - 102.20
CHF/JPY continues to fall inside the minor impulse wave 5, which started previously - when the pair reversed down from the resistance zone lying at the intersection of the resistance level 105.00 and the former support trendline of the recently broken daily down channel from April (acting as resistance now – after it was broken by the previous minor impulse wave 3). The active impulse wave 5 belongs to the intermediate impulse wave (5) of the primary downward impulse wave ③ from last October.
CHF/JPY will, most likely, fall to the next sell target at the support level 102.20 - the breakout of which opens the way for further losses toward the next major round support level 100.00.