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CHFJPY currency pair recently reversed down from the resistance zone located between the pivotal resistance level 118.750 (former multi-month high from the middle of February, as can be seen from the daily CHFJPY chart below) and the upper daily Bollinger Band. Given the strength of the aforementioned resistance area, overbought daily Stochastic and the moderate yen bullishness seen today – CHFJPY can be expected to fall further toward the next support level 118.000 (former support from March).
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