CHFJPY is approaching resistance, potential drop!
CHFJPY is approaching our first resistance at 109.69 (horizontal overlap resistance, 23.6%, 38.2% Fibonacci retracement) and price might potentially drop to our major support at 108.90 (horizontal swing low support, 61.8%, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI is also approaching our major resistance and a reaction off this level 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 is also approaching our major resistance and a reaction off this level 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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