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CHFJPY is currently trading close to the powerful resistance area lying between the key resistance level 111.850 (which has been reversing the price from the end of February) and the upper daily Bollinger Band. Given the strength of the aforementioned resistance area and the overbought daily Stochastic indicator – CHFJPY is likely to fall further toward the next support level 111.000 (which reversed the earlier short-term correction B at the end of June).
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