Tickmill

CHFJPY approaching support, potential bounce!

Short
FX:CHFJPY   Schweizer Franken/Japanischer Yen
CHFJPY is approaching our first support at 110.34 (horizontal swing low support, 61.8% Fibonacci retracement ,100%, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 112.05 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8%, 100% Fibonacci extension).
Stochastic (89,5,3) is also approaching our support and we might see a corresponding bounce in price should it bounce off this level.
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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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