CHFJPY Price Analysis
Expected Scenario
The CHFJPY price encountered a strong barrier at 179.25, preventing a continuation of the bullish momentum and prompting the formation of corrective bearish waves, settling near 178.85 as indicated on the chart.
It is noteworthy that a decline in the stochastic indicator below the 80 level would intensify negative pressures, confirming a shift towards correctional bearish bias. The next anticipated targets for downward movements are 178.42, followed by 177.60.
Expected Trading Range
- Support: 179.05
- Resistance: 178.42
Trend Forecast: Bearish
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