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CHFJPY recently reversed down from the resistance area lying between the strong resistance level 110.75 (which has stopped the previous sharp upward correction B in July) and the upper daily Bollinger Band. Given the overbought reading on the daily Stochastic indicator and the moderate bearish Yen sentiment seen across the markets today – CHFJPY is likely to fall toward the next support level 110.10 (former key resistance level which reversed the price multiple times in November).
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