The Swiss Franc has declined by 2.26% against the Japanese Yen since April 10. The currency pair was pressured lower by the 50-, 100– and 200– period SMAs during this period.
All things being equal, bearish traders could continue to pressure the CHF/JPY exchange rate lower during the following trading sessions. The potential target would be at the 108.94 area.
However, the currency exchange rate needs to surpass the weekly support level at 109.95 before reaching the given target.
