LeoPrime Daily Market Analysis

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CHFJPY broke 115.000 support; Likely to fall to 114.200

CHFJPY continues to fall after the earlier breakout of the support area lying between the key support level 115.000 (which also stopped the previous short-term correction (a)) and the 38.2% Fibonacci correction of the upward impulse from June. The breakout of the aforementioned support area accelerated the active minor impulse wave (C). Given the strongly bearish Swiss franc sentiment – CHFJPY is likely to extend the losses toward the next support level 114.200 (target for the completion of the active wave B).

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