CHFJPY approaching support, potential bounce!

٣١ أكتوبر ٢٠١٨

CHFJPY is approaching our first support at 111.90 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 114.02 (horizontal pullback resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is approaching support and we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.