CHFJPY continues to decline – after the pair revered down strongly from the resistance area located between the powerful, long-term resistance level 117.800 (which has been reversing the price from the middle of August) standing close to the upper daily Bollinger Band. The downward reversal from this resistance area will most likely form the daily reversal pattern Bearish Engulfing. Given the strength of the resistance level 117.800 and the bearish Swiss franc sentiment seen today – CHFJPY currency pair can be expected to fall further toward the next support level 116.000 (which reversed previous corrections (2) and 2).