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FX.co ★ CHF/JPY: downside continuation below 163.07

CHF/JPY: downside continuation below 163.07

CHF/JPY: downside continuation below 163.07

CHF/JPY Sellers In Charge!

The CHF/JPY pair extended its sell-off after failing to stay above the 164.45 former low. Dropping below the uptrend line signaled exhausted buyers and that the pair could develop a new downside movement.

Now, it stands right on the former low of 163.07. This represents a downside obstacle. Staying at this level may announce an imminent breakdown.

CHF/JPY Trading Conclusion!

See also: Start Forex trading with a European level broker!

Dropping and stabilizing below 163.07 may announce more declines. This scenario could help the sellers to catch a downside continuation.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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