CHFJPY approaching support, watch for potential breakout!

9 ต.ค. 2018

CHFJPY is approaching our first support at 113.95 (horizontal swing low support) and a breakout below this level might push price down to our major support at 112.12 (horizontal pullback support, long term ascending support line, 61.8% Fibonacci extension, 61.8% 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 and we might see a corresponding drop in price.
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