The CHFJPY pair has reaffirmed its commitment to a bearish trajectory, distancing itself from the 169.10 resistance level. Currently, there is observable robust downward pressure on the initial support at 166.60.
It’s noteworthy that the stochastic indicator’s dip below the 50 level is indicative of a fresh negative momentum. This may facilitate the breach of the aforementioned support, clearing the path for further bearish milestones. Anticipated movements involve a descent towards the 165.75 level, with subsequent pressure on the MA55 around 164.90.
The projected trading range for today is expected to fluctuate between 167.75 and 166.75.
Anticipated Trend for Today: Bearish