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CHFJPY, H4 | Bearish Dip

30424 chfjpy h4 bearish dip

Type: Bearish ReversalKey Levels:Resistance: 125.408Pivot: 125.036Support: 124.14Preferred Case:Prices are on bearish momentum and we see the potential for a dip from our Pivot at 125.036 in line with 50% Fibonacci retracement towards our 1st support at 124.14 in line with 100% Fibonacci retracement and 61.8% Fibonacci extension. Prices are trading below our ichimoku clouds further supporting our bearish bias.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 125.408 in line with 61.8% Fibonacci extension.

Source: Tickmill

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