CHFJPY currency pair under the strong bullish pressure after the price broke the strong resistance level 124.500 (which stopped the previous intermediate impulse wave (3) in the middle of last month). The breakout of the resistance level 124.500 accelerated the active medium-term impulse wave (5). Given the clear multi-month uptrend and strengthening yen bearishness coupled with strong safe-haven Swiss franc inflows – CHFJPY currency pair can be expected to rise further toward the next resistance level 126.000.
