The Swiss Franc has edged higher by 1.18% against the Japanese Yen since April 1. The currency pair revealed a narrow ascending channel pattern during this week’s trading sessions.
As for the near future, the exchange rate could continue to surge in the narrow ascending channel. The potential target for the CHF/JPY pair will be near the 119.00 level.
However, the weekly R2 at 118.36 could provide resistance for the currency exchange rate in the shorter term.