CHFJPY continues to rise strongly after the price broke the key resistance level 116.16 (which has been reversing the pair from the start of October as can be seen from the daily CHFJPY chart below). The breakout of the resistance level 116.16 accelerated the active minor impulse wave 3 – which belongs to the sharp impulse wave (3) from the middle of November. Given the prevailing daily uptrend and the strength of the active impulse waves 3 and (3) – CHFJPY is expected to rise further toward the next resistance level 117.30 (top of wave (B) from September) – followed by resistance level 117.90 (monthly high from August).