CHFJPY: ⬇️ Sell
- CHFJPY reversed from resistance zone
- Likely to fall to support level 196.00
CHFJPY currency pair recently reversed down from the resistance zone between the resistance level 198.806 (which stopped impulse wave 1 in December) and the upper daily Bollinger Band.
The downward reversal from the resistance zone created the daily Japanese candlesticks reversal pattern Shooting Star.
Given the bearish divergence on the daily Stochastic, CHFJPY currency pair can be expected to fall to the next support level 196.00 (low of the previous correction 2).
 and the upper daily Bollinger Band.){kind=link}