CHF/JPY reversed from resistance zone

CHF/JPY reversed from resistance zone

2019-11-11 • Updated

  • CHF/JPY reversed from resistance zone
  • Next sell target - 113.00

CHF/JPY recently reversed down sharply from the resistance zone surrounding the key resistance level 115.00, which has been steadily reversing all upward impulse waves from last December, as can be seen from the daily CHF/JPY chart below. The resistance zone near the resistance level 115.00 was further strengthened by the upper daily Bollinger Band.

Given the clear triple bearish divergence on the daily Stochastic indicator, CHF/JPY is expected to fall to the next sell target at the next support level 113.00 (which reversed earlier correction (2)).

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