CHFJPY currency pair recently broke the support zone located between the key support level 125.250 (previous monthly high from September, which also reversed the pair at the start of this year) and the 38.2% Fibonacci correction of the previous sharp upward impulse from the end of November. The breakout of the support level 125.250 accelerated the active short-term correction (iv). Given the strongly bearish Swiss franc sentiment that can be seen across the FX markets today – CHFJPY currency pair can be expected to fall further toward the next support level 124.000 (target for the completion of the active wave (iv)).