The CHFJPY attempts to regain the bearish bias – Analysis – 4-7-2019

The CHFJPY pair hinted its willing to the bearish bias by forming negative wave and settles below the bearish channel’s resistance at 109.50, while confirming regaining the bearish bias requires the stability below the current resistance to increase the chances of targeting 108.20 level initially, while breaking this obstacle will extend trading towards 106.80 in the upcoming period.

Stochastic sharp decline and settling within the oversold areas supports our negative overview by providing new negative momentum, reminding you that it is important to hold below the bearish channel’s resistance to decrease the chances of changing the suggested main trend.

The expected trading range for today is between 109.50 and 108.20

The expected trend for today: Bearish