CHFJPY has broke out its 114.45 resistance level which now turns into a rather important strong support level for CHFJPY. Looking at bollinger bands we can see it travelling down to the middle band which I believe will be the level of rejection as current price level is retesting the broken resistance level and could potentially give us a good movement to the upside. Next crucial level will be 118 price level resistance level which we have previously see several rejections at the level. Also, from a fibonacci extension point of view 161.8 fib level will be a level to watch. Therefore, there will be slight resistance pressure when we approach closer to 161.8 fib level and resistance level @118 price level. As of now, I see a good BULLISH trade opportunity.
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