Technical analysis

CHFJPY Wave Analysis 12 January 2024

– CHFJPY reversed from resistance level 170.50

– Likely to fall to support level 168.95

CHFJPY currency pair recently reversed down from the key resistance level 170.50 (former double top from November).

The downward reversal from the resistance level 170.50 created the daily candlesticks reversal pattern Dark Cloud Cover.

Given the overbought daily Stochastic, CHFJPY currency pair can be expected to fall further to the next support level 168.95.

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