The CHFJPY suffered strong bearish pressures, which forced it to form several bearish waves, reaching the initial main support at 200.40, to settle above it.
The current support forms confirmation key for the expected trend in the near and medium term trading, the stability above it will open the way for gathering positive momentum to begin targeting some bullish stations by its rally towards 210.55 reaching 212.20, while reaching below the support and providing negative close will confirm its move to a new negative phase, forcing it to suffer more losses by targeting 199.90 reaching 199.10 level.
The expected trading range for today is between 200.40 and 201.55
Trend forecast: Bullish
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