The Swiss Franc has been trading in an ascending channel against the Japanese Yen since early January.
During the past week, the pair has formed a new high at 118.50. However, the rally was stopped by the monthly resistance at the 118.64 mark to retrace for a brief period of time.
The pair is likely to continue trading north, Technical indicators are in favor for the Swiss Franc to continue its rally against the Yen during the following trading sessions
