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CHF/JPY Gathers Bullish Momentum

Published 12/29/2021, 02:49 AM
Updated 03/28/2023, 03:20 AM
CHF/JPY
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Type: Bullish bounce

Key Levels: Resistance: 124.777, pivot: 123.916, support: 123.532

Preferred Case:CHF/JPY is building bullish momentum. We see the potential for a bounce from our Pivot at 123.916 in line with 38.2% and 61.8% Fibonacci retracement towards our 1st resistance at 124.777 in line with 161.8% Fibonacci extension and 200% projection.

Prices are trading above our Ichimoku clouds, further supporting our bullish bias.

Alternative Scenario: Alternatively, prices may dip towards our 1st support at 123.532 in line with 61.8% Fibonacci retracement and 100% Fibonacci retracement.CHF/JPY 4-hour chart.

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