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– CHFJPY reversed from the support area
– Likely to rise to the resistance level 170.00
CHFJPY currency pair recently reversed up from the support area located between the multi-month support level 166.70 (which has been reversing the price from last March) and the lower daily Bollinger Band.
The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Piercing Line.
Given the strength of the support level 166.70 and the oversold daily Stochastic, CHFJPY currency pair can be expected to rise to the next resistance level 170.00 (former support from last month).
Source: https://fxpro.news
