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CHF/JPY may decline

CHF/JPY may decline

Information is not investment advice

On the daily chart, the pair has been rising. However, it seems like it hasn’t reached its lows yet. Taking a look at H4, we see that the pair has been trading in the downtrend, so risks of the fall increase. If the pair is able to break above the upper boundary of the descending channel (near 108.865), we will see a rise to the resistance at 108.96. However, if the pair keeps trading in the downtrend, we can anticipate a fall to 108.40. 

CHFJPYH4.png

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USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.

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