CHFJPY approaching resistance, potential drop!
CHFJPY is approaching our first resistance at 110.86 (horizontal overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur pushing price down to our major support at 108.44 (horizontal swing low support, 50% Fibonacci retracement).
RSI (88) is also seeing a bearish exit 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.
RSI (88) is also seeing a bearish exit 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