Will the CHF bounce back down from the resistance?
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
CHF/JPY reversed from resistance zone
- CHF/JPY reversed from resistance zone
- Next sell target - 110.50
CHF/JPY recently reversed down from the resistance zone lying between the broke the resistance level 112.00 (which reversed the price at the end of March, as can be seen below), upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from February. CHF/JPY is expected to fall further toward the next sell target at the next support level 110.50 (which reversed the previous impulse wave (1)).
Dmitry Chernovolov
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