Chf-jpy
CHFJPY is approaching resistance, potential drop! CHFJPY is approaching our first resistance at 109.69 (horizontal overlap resistance, 23.6%, 38.2% Fibonacci retracement) and price might potentially drop to our major support at 108.90 (horizontal swing low support, 61.8%, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI is also approaching our major resistance and a reaction off this level might see a corresponding drop in price.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
CHFJPY approaching support, potential bounce! CHFJPY is approaching our first support at 110.07 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 110.70 (horizontal swing high resistance, 38.2% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
Stochastic (89,5,3) is also approaching our support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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.
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.
CHFJPY bounced off support, potential for further rise! CHFJPY bounce off our first support at 110.07 (horizontal swing low support, 61.8% Fibonacci retracement, Elliot wave structure) where price might potentially rise to its first resistance at 110.66 (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.
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.
CHFJPY Long Opportunity Looking For A Long Position Here! *NOT RESPONSIBLE FOR ANY LOSSES TRADE AT YOUR OWN RISK!*
Consolidation BuyPrice has been under consolidation, and is showing signs of continued upward momentum to resistance
Small Bullflag Pattern
Risk Reward 2.3
