The last review of the Swiss Franc against the Japanese Yen pair concentrated on the fact that the pair had reached a dominant resistance line just above the 110.50 mark. Since than that level has been broken. Moreover, the pair has extended its gains up to the 111.70 mark.
During the move the two previously drawn patterns were broken. However, if one looks at the previous resistance line of the medium term ascending pattern, it can be noticed that the previous resistance has become a support on Wednesday.
In regards to the near future, the pair is either going to fall down to the 111.00 mark where the monthly PP is located at, or the rate will make another attempt to pass the 111.70 resistance cluster.
