The CHFJPY currency pair has successfully overcome previous negative pressures by consistently closing above the 169.40 support level, and is now showing gains with a settlement near 170.50.
The stochastic indicator’s rise above the 50 level is providing additional positive momentum. This could facilitate further gains, with potential targets of 171.65 and subsequently testing the 55-day moving average (MA55) at 172.45.
Today’s expected trading range is between 169.95 for support and 171.65 for resistance.
Trend Forecast: Bullish
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