The Swiss Franc declined by 137 pips or 1.17% against the Japanese Yen during last week’s trading sessions. A breakout occurred through the lower boundary of an ascending channel pattern on September 7.
Given that a breakout had occurred, the exchange rate could continue to trend lower during the following trading sessions. The potential target for bearish traders would be at the 114.00 level.
However, given that the currency exchange rate has bounced off the support cluster at 115.62, a surge towards the 117.50 area could be expected next week.
