CHFJPY approaching support, potential bounce!

CHFJPY is approaching our first support at 110.26 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 112.27 (horizontal swing high resistance, 38.2% Fibonacci retracement, 61.8%, 100% Fibonacci extension).
RSI (55) is also approaching our major support and a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.