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CHFJPY approaching support, potential bounce!

Oleh Tickmill
Broker

CHFJPY is approaching our first support at 110.33 (horizontal overlap support, 61.8% fiboancci extension, 78.6% fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 110.89 (61.8% fiboancci extension, 50% fibonacci retracement).
Stochastic is approaching support as well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Chart PatternschfCHFJPYchfjpylongchfjpyshortHarmonic PatternsTrend 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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