CHF/JPY Sellers In Charge!
The CHF/JPY pair extended its sell-off after failing to stay above the 164.45 former low. Dropping below the uptrend line signaled exhausted buyers and that the pair could develop a new downside movement.
Now, it stands right on the former low of 163.07. This represents a downside obstacle. Staying at this level may announce an imminent breakdown.
CHF/JPY Trading Conclusion!
Dropping and stabilizing below 163.07 may announce more declines. This scenario could help the sellers to catch a downside continuation.
