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CHFJPY approaching support, potential bounce!

Long
Swiss Franc / Japanese Yen (FX:CHFJPY)  
Tickmill Broker  
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 support at 112.27 (horizontal overlap support, 23.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 113.52 (horizontal swing high resistance, 100% Fibonacci extension, 50% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI (89) is also seeing a bullish exit and we might see a corresponding rise in price.
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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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