CHFJPY is approaching our first support at 110.28 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) and a strong bounce could occur above this level, pushing price up to our major resistance at 11.42 (horizonal swing high resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) Stochastic (55,5,3) is also bouncing off our support where we might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
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