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CHFJPY approaching support, potential bounce!

Oleh Tickmill
Broker
CHFJPY is approaching our first support at 116.63 (horizontal pullback support, 100% Fibonacci extension, 61.8% Fibonacci retracement) and a strong bounce might occur pushing price up to our major resistance at 118.03 (horizontal swing high resistance, 61.8% Fibonacci extension). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding bounce in price should it react off this level.
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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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