The Swiss Franc has edged higher by 97 pips or 0.83% against the Japanese Yen since January 20. The currency pair breached the 50-, 100– and 200– period SMAs during this week’s trading sessions.
As for the near future, the exchange rate could continue to surge in an ascending channel pattern. The potential target for bullish traders would be near the 118.00 level.
However, a resistance line at 117.27 could provide a barrier for bullish traders this week.
