CHFJPY currency pair continues to rise after the pair broke through the major resistance level 122.70 (which stopped the sharp multi-month uptrend in the middle of July as can be seen from the daily CHFJPY chart below). The breakout of the resistance level 122.70 accelerated the active intermediate impulse wave (3) from the start of October.
Given the strength of the active impulse wave (3), strong yen bearishness seen across the FX markets today – CHFJPY currency pair can be expected to rise further toward the next resistance level 124.00 (target for the
completion of the active intermediate impulse wave (3)).