The Swiss Franc has been appreciating against the Japanese Yen in an ascending channel pattern since the end of October when the currency pair reversed from the bottom border of its channel at 112.00.
The CHF/JPY exchange rate breached the 50-hour simple moving average at 113.65 during the Asian session on Friday.
As for the near future, it is likely that bullish traders could push the currency exchange rate towards the upper boundary of the channel pattern at 114.78 during the following trading sessions.
Furthermore, technical indicators are in favour of bullish momentum within this session.
