HomeContributorsTechnical AnalysisCHF/JPY 4H Chart: Possible Breakout From Triangle

CHF/JPY 4H Chart: Possible Breakout From Triangle

The Swiss Franc has been trading in an ascending channel against the Japanese Yen after hitting the lower boundary of a dominant channel on January 10. However, the rally was stopped by the monthly pivot point at 118.64.

After reaching the monthly high at 118.64, the currency pair has been trading in a channel down.

The dominance of bears over the currency exchange rate is likely to end near support cluster located at 114.58. If this area is to hold, the pair could reserve for a test the upper boundary of the junior pattern.

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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