Wednesday market analysis: CHF/JPY

Hello traders,

let’s see what Wednesday has for us:

1. CHF/JPY 

On the CHF/JPY, price got rejected after hitting resistance level 158.805.

Buyers found renewed strength after hitting the key support zone, and gave us a three inside up reversal candlestick pattern. For those who also use the stochastic indicator, note that it’s already oversold.

So we have a huge possibility that price may retest resistance level 158.805

What say you?

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