CHFJPY approaching support, potential bounce!
CHFJPY is approaching our first support at 111.91 (horizontal overlap support, 100% Fibonacci extension, 50% Fibonacci retracement, elliot wave structure) where a strong bounce might occur above this level pushing price up to our major resistance at 112.64 (horizontal overlap resistance, 61.8% Fibonacci retracement).
Stochastic (21,5,3) is also seeing a bullish divergence and is bouncing off our major support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21,5,3) is also seeing a bullish divergence and is bouncing off our major support where we might see a corresponding rise 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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