CHF/JPY Divergence Hinting Possible Rejection From POC Zone
The CHF/JPY has formed a bearish divergence with price preparing for a possible bearish rejection. Bearish divergence happens when price makes a higher high while the oscillator makes a lower high.
Price is currently approaching our POC zone, 110.80-90 zone [W H3 // D H4 // 7/8]. Targets are 110.35 [D L3 // 2/8] and 109.96 [-2/8 // Last Swing Low].
Have in mind that price needs to stay below 111.20 for divergence to remain stable.
The analysis has been done with the CAMMACD.MTF template.
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