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CHFJPY Settles Below the Support – Forecast for June 27, 2024

CHFJPY Price Analysis

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Expected Scenario

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The CHFJPY price encountered a strong barrier at 179.25, preventing a continuation of the bullish momentum and prompting the formation of corrective bearish waves, settling near 178.85 as indicated on the chart.

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It is noteworthy that a decline in the stochastic indicator below the 80 level would intensify negative pressures, confirming a shift towards correctional bearish bias. The next anticipated targets for downward movements are 178.42, followed by 177.60.

Expected Trading Range

  • Support: 179.05
  • Resistance: 178.42

Trend Forecast: Bearish

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