Chfjpyforecast
CHFJPY potential bounce!
CHFJPY expected to reverse up to 1st support at 110.666 where it could potentially react and bounce to its resistance at 1st resistance at 111.645.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
CHFJPY potential bounce!
CHFJPY expected to reverse up to 1st support at 112.128 where it could potentially react and bounce to its resistance at 1st resistance at 113.018.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
CHFJPY has potential to go down for 160 pips!Head & Shoulders pattern looks real and currently we are seeing price managed to break the trendline support, momentum bearish candle formed from previous daily candle closed indicate that price might continue to go lower
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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CHFJPY: Countertrend Sell based on RSI Divergence and Resistance112.60 zone has offered some resistance in the recent days.
In addition to this, there is also some bearish divergence in the RSI.
If this zone continues to offer resistance, we can execute low-risk sell trades at 112.68-112.85.
TP can be set at 112.10 and 111.70. Stop Losses can be placed above 113