• CHFJPY reversed from support zone
• Likely to reach resistance level 117.00
CHFJPY today reversed up from the support zone lying between the key support level 116.20 (which has been steadily reversing this currency pair from the end of December) and the lower daily Bollinger Band.
The upward reversal from this support zone is likely to create the daily Japanese candlesticks reversal pattern Hammer – if the pair closes today near the current levels.
CHFJPY is likely to rise further toward the next resistance level 117.00 (former resistance from the start of March).