CHFJPY currency pair recently reversed up sharply from the combined support zone located between the pivotal support level 116.238 (which has been reversing the price from December), lower daily Bollinger Band and the 50% Fibonacci correction of the earlier daily upward price impulse from the end of November. Given the strength of the aforementioned support zone and the rising yen bearishness seen today – CHFJPY currency pair can be expected to rise further toward the next resistance level 118.000 (which reversed the previous minor correction B).
