CHFJPY approaching support, potential bounce!
CHFJPY is approaching our first support at 110.34 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci extension, long term ascending support line) 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).
RSI (34) is also approaching our support and we might see a corresponding bounce in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) is also approaching our support and we might see a corresponding bounce in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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