CHFJPY recently reversed up with the daily Piercing line candlesticks reversal pattern from the key support level 116.000. The upward reversal from the support level 116.00 follows the earlier upward reversal from the same support level – which formed the daily Bullish Engulfing. Given the moderately bearish Swiss franc seen across the currency markets today – CHFJPY is likely to extend the gains toward the next resistance level 117.600 (top of the previous wave (iii) and the target for the completion of the active impulse wave 3)
