CHFJPY Wave Analysis – 5 May 2025

CHFJPY: ⬇️ Sell

– CHFJPY reversed from the resistance zone

– Likely to fall to support level 174.00

CHFJPY currency pair recently reversed down from the resistance zone between the pivotal resistance level 175.85 (which has been steadily reversing the price from November) and the upper daily Bollinger Band.

The downward reversal from this resistance zone stopped the previous sharp upward impulse wave (3) from the end of April.

Given the strength of the resistance level 175.85, CHFJPY currency pair can be expected to fall to the next support level 174.00.

Source: https://fxpro.news