Source: ForexYard
The CHF/JPY pair is in the midst of a bearish trend, and has recently dropped to the 85.20 level. Nevertheless, technical analysis indicates that a bullish correction may be impending, as a bullish cross has taken place on both the Slow Stochastic and the RSI. In addition, the Bollinger Bands have tightened, suggesting that a sharp move should take place soon. The next resistance level is located at the 85.90 level. If the pair will manage to cross the resistance level, it looks to reach the 86.40 level.
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