CHFJPY: Possible Reversal from the Resistance

The price reached the resistance zone, which did not allow the market to continue the upward movement. We should expect a reversal as for a breakout we don't have solid bullish signals.

MACD histogram is going to reverse and give us a bearish signal. RSI also will be able to provide us a bearish signal, if the close price of the daily candle will be not far from the current levels. DMI is bullish, but it tells us about range market conditions.

We can search for sell opportunities using lower timeframes. The market has space for a downward movement with the target at 109.50 and 109.00 levels. These zones are supported by SMA100 and SMA200.