CHFJPY Wave Analysis - 23 October 2026
Published on October 23, 2026
Market Overview
The CHFJPY currency pair has recently shown a significant reversal from a key resistance level, indicating potential further declines in the near term.
Technical Analysis
Current Situation
The CHFJPY pair reversed from the resistance zone around 192.15. This level was previously a support level at the beginning of August and has now acted as a barrier to upward movement. The reversal coincided with the upper daily Bollinger Band and the 38.2% Fibonacci retracement level of the downward impulse wave that began in mid-August.
Wave Structure
The downward movement from the resistance level has completed the short-term impulse wave (i) and initiated an active correction (ii). This suggests that the pair is likely to continue its downward trajectory.
Price Targets
Given the strength of the resistance at 192.15, the analysis predicts that the CHFJPY pair is expected to decline further towards the next support level at 189.50. This level previously halted wave b in mid-October, indicating its significance as a support point.