HomeContributorsTechnical AnalysisCHF/JPY 4H Chart: Two Scenarios Likely

CHF/JPY 4H Chart: Two Scenarios Likely

The Swiss Franc has been trend bullish in an ascending channel pattern against the Japanese Yen since the end of September. The currency pair declined by 131 pips or 1.13% during last week’s trading sessions.

Currently, the exchange rate is trading near the bottom border of the channel pattern and could be set for a breakout.

If the breakout occurs, bears are likely to pressure the CHF/JPY pair lower towards the 114.50 level during the following trading sessions.

However, if the ascending channel pattern holds, the currency exchange rate could continue to trend higher during next week’s trading sessions

 

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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