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Apr 14, 2021 8:41 AM

CHFJPY facing bullish pressure | 14 Apr 2021 Long

Swiss Franc/Japanese YenFXCM

Description

Prices are facing bullish pressure from horizontal swing low support, intersecting the ascending trendline support. Prices might push up from our buy entry to 1st resistance in line with horizontal swing high resistance in line with 100% Fibonacci extension and 127.2% Fibonacci retracement . If prices fall through buy entry, prices might take support from horizontal swing low support in line with 50% Fibonacci extension and 61.8% Fibonacci retracement . EMA is also below prices, showing a bullish pressure for prices.
Comments
MihaiMl
@FXCM , do you still see this as a valid scenario for reentry ?
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