CHFJPY approaching resistance, potential drop!

Price is approaching our first resistance at 111.41 (horizontal swing high resistance, 61.8% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 110.24 (horizontal swing low support, 100%, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our resistance line and we might see a corresponding drop in price.
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