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CHFJPY, H4 | Bullish Momentum!

Edited on December 27, 2021
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Preference:

Prices are on bullish momentum. We see potential for a bounce from our Pivot at 123.916 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci retracement towards our 1st resistance at 124.777 in line with 161.8% Fibonacci extension and 200% Fibonacci projection. Prices are trading above our Ichimoku clouds, further supporting our bullish bias.

Alternative Scenario:

Alternatively, prices may dip towards our 1st support at 123.532 in line with 61.8% Fibonacci retracement and 100% Fibonacci retracement.

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