CHFJPY: ⬇️ Sell
– CHFJPY reversed from resistance level 194.00
– Likely to fall to support level 191.20
CHFJPY currency pair recently reversed down from the resistance zone between the resistance level 194.00 (former strong support from the start of August), the resistance trendline of the daily up channel from the start of October and the 50% Fibonacci correction of the downward impulse from the end of August.
The downward reversal from this resistance zone started the active short-term correction inside the C-wave of the ABC correction (B) from the end of September.
Given the strength of the resistance level 194.00, CHFJPY currency pair can be expected to fall further toward the next support level 191.20 – which intersects with the support trendline of the aforementioned up channel.
, the resistance trendline of the daily up channel from the start of October and the 50% Fibonacci correction of the downward impulse from the end of August.){kind=link}