CHFJPY: Further debasement under-preparation
The daily graph of CHFJPY pair shows that, bulls have been thwarted at the resistance of classical channel, as the pair has declined sharply and it is currently re-experiencing the middle line of the channel.
Additionally, the long black candlestick may assist bears to clear the middle line of the channel by the end of the day and may confirm the sign of trend exhaustion appearing on Stochastic. Meanwhile, DMI showed that, the trend is slowing down.
Eyes will be on the classical support of 131.30 followed by 128.15, while 134.60 should hold to protect the bearish outlook.