CHFJPY currency pair recently reversed down from the resistance zone located between the key resistance level 121.000 (top of wave (A) from the end of June), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward price move from June.. The upward reversal from this support area started the active short-term corrective wave (ii). Given the strength of the aforementioned resistance zone – CHFJPY currency pair can be expected to fall further toward the next support level 119.500 (target price for the completion of the actives correction (2)).