CHFJPY: Descending Trend Possible Profits.
Hello,
Given the repeated failure of CHFJPY to conquer five-week long resistance lines, the pair is likely to decline to 109.45 and 108.95 supports for now; however, 108.20 could limit the quota's downside to 108.95, if not 108.45 & 107.60 could regain market attention. If the trading to the south continues at all prices below 107.60, the recent low around 106.35 and 106.00 could please the sellers. Meanwhile, successful clearance of 110.05 can trigger the pair to recover to 110.60 and then to the 111.25-35 resistance region. In addition, the successful rally beyond 111.35 allows pairs to target 112.00 and 112.80-90 levels to the north.
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Given the repeated failure of CHFJPY to conquer five-week long resistance lines, the pair is likely to decline to 109.45 and 108.95 supports for now; however, 108.20 could limit the quota's downside to 108.95, if not 108.45 & 107.60 could regain market attention. If the trading to the south continues at all prices below 107.60, the recent low around 106.35 and 106.00 could please the sellers. Meanwhile, successful clearance of 110.05 can trigger the pair to recover to 110.60 and then to the 111.25-35 resistance region. In addition, the successful rally beyond 111.35 allows pairs to target 112.00 and 112.80-90 levels to the north.
Hit like, comment and follow for more details.
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