FX.co ★ CHF/JPY Reversed Nicely Off Resistance, Prepare For A Drop!

CHF/JPY reversed nicely off its resistance at 110.74 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect to see a drop to its support at 109.70 (78.6% Fibonacci retracement, 100% Fibonacci extension).

Stochastic (21, 5, 3) is approaching its resistance at 92% where a corresponding reaction could occur.

Sell below 110.74. Stop loss at 111.81. Take profit at 109.70.