The Swiss Franc is a safe haven currency, where funds flock to, if there is an increase in risk in the markets. The Japanese Yen also is a safe haven currency. However, if one puts them one against another, one can not just speculate technically, but also avoid some of the fluctuations to and from risky and conservative assets.
Regarding the technical picture, the rate recently bounced off a massive resistance cluster near the 111.50 level and began a decline. During the decline the pair once more confirmed the existence of a long term channel down pattern.
Moreover, recently the rate failed to regain its losses, as it failed to pass the 111.00 mark, where the weekly S1 is located at.
