FX.co ★ CHF/JPY Testing Support, Prepare For Bounce

The CHF/JPY pair is testing its support at 109.53 (61.8% & 100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where the price is expected to bounce up to its resistance at 110.31 (50% Fibonacci retracement, horizontal swing high resistance).

Stochastic (55, 5, 3) is nearing its support at 4.4% where a corresponding bounce is anticipated.

CHF/JPY is testing its support where we expect to see a bounce.

Buy above 109.53. Stop loss at 109.01. Take profit at 110.31.