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CHFJPY approaching resistance, potential drop!

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Swiss Franc / Japanese Yen (FX:CHFJPY)  
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FX:CHFJPY   Swiss Franc / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns CHFJPY chf jpy chfjpylong chfjpyshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern chfjpy chf jpy chfjpylong chfjpyshort forex forextrading forexsignals
CHFJPY is approaching our first resistance at 113.32 (horizontal overlap resistance, 100% Fibonacci extension, 50% Fibonacci retracement) where price might potentially drop to our major support at 111.26 (horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (55,5,3) is also seeing a bearish divergence and is approaching resistance and we might see a corresponding drop in price if it reacts off this level.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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