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CHFJPY, H4 | Bearish Dip

30211 chfjpy h4 bearish dip

Type: Bearish ReversalKey Levels:Resistance: 125.664Pivot: 125.348Support: 124.768Preferred Case:Prices are consolidating in a triangle. We see the potential for prices to dip from our Pivot at 125.348 in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension towards our 1st support at 124.768 in line with 23.6% Fibonacci retracement. Technical indicators are showing bearish momentum.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 125.664 in line with 78.6% Fibonacci extension and 100% Fibonacci retracement.

Source: Tickmill

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