CHFJPY is testing our first resistance at 110.02 (Horizontal pullback resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur pushing price down to our major support at 109.77 (Horizontal pullback support, 50% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (55,5,3) is also approaching resistance where 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 resistance where 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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