Technical analysis of GBP/JPY
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)).
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.