The Swiss Franc has been trend bullish in an ascending channel pattern against the Japanese Yen since the end of September. The currency pair declined by 131 pips or 1.13% during last week’s trading sessions.
Currently, the exchange rate is trading near the bottom border of the channel pattern and could be set for a breakout.
If the breakout occurs, bears are likely to pressure the CHF/JPY pair lower towards the 114.50 level during the following trading sessions.
However, if the ascending channel pattern holds, the currency exchange rate could continue to trend higher during next week’s trading sessions
