CHFJPY under the bearish pressure after the earlier downward reversal from the resistance area lying between the powerful resistance level 110.00 (which has been repeatedly reversing this currency pair from the end of
July) and the upper daily Bollinger Band. Given the strength of the aforementioned resistance area and the rising bearish Swiss Franc sentiment seen across the markets today – CHFJPY is likely to remain under bearish pressure and to extend the losses toward the next support level 109.20 (low of the previous wave 2 from the end of October).