In my previous CHFJPY analysis 4 weeks ago( analysis link attached below), I told you that breaking 114.65 will take CHFJPY towards 118. As you can see CHFJPY reached 117.65 level which is very close to the 118 target I mentioned.
Now, you can see that 118 level is a strong resistance on the weekly chart. Chances are price will reverse and drop to the 114 level after failing to break this resistance.
Now, you can see that 118 level is a strong resistance on the weekly chart. Chances are price will reverse and drop to the 114 level after failing to break this resistance.
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