The Swiss Franc has been trading in a narrow ascending channel pattern against the Japanese Yen since the end of November. The currency pair has surged by 1.21% in value during this period.

Everything being equal, the CHF/JPY exchange rate will likely trade south within next week’s trading sessions. Bearish traders could target the 50-, 100– and 200– period SMAs at 109.66.

However, technical indicators suggest that the currency exchange rate will continue to trade north during the following trading sessions.

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