CHFJPY: ⬇️ Sell
– CHFJPY reversed from resistance level 192.15
– Likely to fall to support level 189.50
CHFJPY currency pair recently reversed down from the resistance zone between the resistance level 192.15 (former support from the start of August, which stopped wave iv at the end of September), the upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse 1 from the middle of August.
The downward reversal from this resistance zone completed the short-term impulse wave (i) and started the active correction (ii).
Given the strength of the resistance level 192.15, CHFJPY currency pair can be expected to fall further toward the next support level 189.50 – which stopped wave b in the middle of October.
, the upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse 1 from the middle of August.){kind=link}