FX.co ★ CHF/JPY Bounced Off Support, Prepare For Further Growth

The CHF/JPY pair bounced off its support at 112.32 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 113.25 (50% Fibonacci retracement, horizontal pullback resistance).

Stochastic (89, 5, 3) is approaching its support at 3.2% where a corresponding bounce could occur.

CHF/JPY bounced off its support where we expect to see further growth.

Buy above 112.32. Stop loss at 111.69. Take profit at 113.25.