The Swiss Franc has declined by 2.18% against the Japanese Yen since last week’s trading sessions. A breakout occurred through the lower boundary of an ascending channel pattern at 117.19 on February 23.
Given that a breakout has occurred, the exchange rate is likely to continue to trend lower during the following trading sessions. The potential target for sellers would be near the 116.00 level.
However, the currency exchange rate could aim for a retest of the 117.19 area in the shorter term.
