CHFJPY approaching support, potential bounce!

7 ก.พ. 2019

CHFJPY is approaching our first support at 109.34 (Horizontal swing low support, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 109.73 (Horizontal overlap resistance, 38.2% Fibonacci retracement).
Stochastic (34,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
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