The Swiss Franc traded sideways against the Japanese Yen during last week’s trading sessions.
Currently, the exchange rate is trading near the bottom border of an ascending channel pattern at 109.80.
From a technical point of view, a breakout could occur within the following trading sessions.
However, a support cluster, formed by the weekly pivot point and the combination of the 50– and 100– hour SMAs, located near the 109.80 area, could provide support for the currency exchange rate in the nearest future.
