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