CHFJPY recently broke above the key resistance level 116.500 (which stopped the previous impulse wave 3 at the start of this month) intersecting with resistance trendline of the daily up channel from the middle of June. The breakout of the resistance level 116.500 accelerated the active impulse wave (C). Given the equally strong bullish Swiss franc and bearish yen sentiment seen across the currency markets today – CHFJPY is likely to extend the gains toward the next resistance level 118.000 (target for the completion of the active impulse wave (C)).