The Swiss Franc has been trending downward against the Japanese Yen since February 21. This movement has been bounded within a descending channel pattern.
From a theoretical point of view, a breakout through the lower boundary of the descending channel pattern is likely to occur during next week’s trading sessions. In this situation, the CHF/JPY exchange rate could target the psychological level at the 109.00 marks.
However, given that the currency exchange rate is currently trading near the upper border of the channel pattern, a breakout north could occur within this session.
