The Swiss Franc has declined by 181 pips or 1.56% against the Japanese Yen since last week’s trading sessions. The currency pair breached the 50-, 100– and 200– period SMAs this week.
All things being equal, the exchange rate could continue to edge lower in a descending channel pattern during the following trading sessions. The potential target for bears would be at the 113.00 level.
However, the weekly support level at 113.44 could provide support for the currency exchange rate in the shorter term.
