CHFJPY approaching resistance, potential drop!
CHFJPY broke out of our short term ascending support-turned-resistance line and is approaching our first resistance at 111.38 (horizontal overlap resistance) and a strong reaction might occur below this level pushing price down to our major support at 110.33 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement).
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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