CHFJPY: ⬇️ Sell
- CHFJPY reversed from resistance zone
- Likely to fall to support level 200.40
CHFJPY currency pair recently reversed from the resistance zone between the key resistance level 203.60 (top of wave 1 from February) and the upper daily Bollinger Band.
The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Bearish Engulfing.
Given the strength of the resistance level 203.60 and the bearish divergence on the daily Stochastic, CHFJPY currency pair can be expected to fall to the next support level 200.40.
 and the upper daily Bollinger Band.){kind=link}