Candle stick pattern - Shooting star
As per our analysis CHFJPY has halted its bullishness for a while after a rapid jump of more than 200 pips in previous week. It hits high of 118.06 and declined more than 100 pips. It is currently trading around 116.90.
On the lower side, near term support stands around 116.60 (7- day MA) and any violation below will drag the pair down till 116.14/115.30 (20- day MA). The pair should break below 115.74 low made on Sep 19th 2018.
The near term major resistance is around 117.55 and any violation above will take the pair to next level till 118.06/118.60/119.
It is good to sell on rallies around 117-117.10 with SL around 117.60 for the TP of 115.80.
