CHFJPY recently reversed up strongly from the key support level 116.200 (which has been reversing the price from December), intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from November. The upward reversal from this support level stopped the previous short-term corrective wave (ii) – which belongs to the upward impulse wave 3 from the start of September. Given predominant uptrend on the daily charts, oversold daily Stochastic and the significant yen bearishness seen across the FX markets today – CHFJPY currency pair is likely to rise further toward the next resistance level 117.5000.