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Chf-jpy

CHFJPY potential for a nice bounce!CHFJPY bounced perfectly to reach our resistance target yesterday. We now see another potential bounce coming above 110.07 support (Fibonacci retracement, Fibonacci extension, bullish divergence, horizontal swing low support) which could push prices up to 110.75 resistance (Fibonacci retracement, horizontal swing high resistance) once again. Stochastic (55,5,3) is seeing major support above 3.9% where a corresponding bounce could occur. We’re also seeing bullish divergence vs price signalling that a bounce could be impending. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by easyMarkets
CHFJPY testing support, potential rise! CHFJPY is testing our first support at 110.07 (horizontal swing low support, 61.8% Fibonacci retracement , 61.8% Fibonacci extension, Elliot wave structure) where price might potentially rise to its first resistance at 110.67 (horizontal overlap resistance, 38.2% Fibonacci retracement ). Stochastic (55,5,3) is also approaching support and a bounce off this level might see further rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
CHFJPY approaching support, watch for potential breakout! CHFJPY broke out of our short term ascending support-turned-resistance line and is approaching our first support at 111.21 (horizontal overlap support, 23.6% Fibonacci retracement). A breakout below this level might trigger a strong reaction and push price down to our major support at 110.76 (horizontal swing low support, 38.2% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (89) is also seeing a bearish exit in line with our bearish bias. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill