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CHFJPY approaching resistance, potential drop!

Oleh Tickmill
Broker
CHFJPY is approaching our first resistance at 113.26 (horizontal pullback resistance, breakout level) and a price might potentially drop to our major support at 112.16 (horizontal pullback support, 61.8% Fibonacci extension, 61.8%, 78.6% Fibonacci retracement, long term ascending support line).
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
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Chart PatternschfCHFJPYchfjpylongchfjpyshortForexforexsignalsforextradingHarmonic PatternsjpyTrend Analysis
Tickmill
Broker
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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