CHFJPY approaching resistance, potential drop!
CHFJPY is approaching our first resistance at 111.41 (horizontal swing high resistance, 61.8% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 110.24 (horizontal swing low support, 100%, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our resistance line 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
Stochastic (55,5,3) is also approaching our resistance line 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
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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