The Swiss Franc has been trading bullish against the Japanese Yen since the end of November. The currency pair has edged higher by 2.70% in value during this period.
Everything being equal, the CHF/JPY exchange rate will most likely continue to appreciate in the ascending channel pattern. The pair could hit a one-year high at 112.95 during the following trading session.
However, the currency exchange rate might make a brief pullback towards a support cluster formed by the 50– hour simple moving average and the combination of the weekly pivot point and the monthly R2 at 110.85 within next week’s trading sessions.
