Title
CHFJPY H4 | Potential bullish bounce?
Type
Bullish Bounce
Preference:
Price is above the pivot point at 163.721, the pullback support, and could bounce off and rise to the 1st resistance level at 166.671, multi-swing high resistance.
Alternative scenario:
Price could break the pivot line at 163.721 and fall to 1st support level at 162.154, the swing-low support.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.