CHFJPY moves south drawing lows and highs at lower and lower levels. The nearest key support is in the area below 112.70.
Price is approaching its upper limit. If the price remains to be in consolidation, a further reflection is expected from the channel resistance. As the quotes are in a downtrend, it is preferable to break down the bottom of the channel formation and target key support around 112.70.
The analysed instrument is offered by the broker XM, which provides spreads from 0.0 pips, more than 300 instruments and $ 30 start >>