CHFJPY: Possible Selling Opportunity

The price is not far from the resistance zone at 118.00 level. How the price bounced from this resistance, you can see on the daily chart. RSI reached the overbought zone, and it gives us a reversal signal. MACD histogram is going to confirm the reversal as well as a further downward movement. The pair should be added to a watchlist as it will be able to provide interesting short opportunities during the next week.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.