CHF/JPY declines from new high

Source: Dukascopy Bank SA


The surge of the Swiss Franc against the Japanese Yen eventually ended at the 136.00 mark on April 19. By May 11, the rate had retreated to the support zone at 130.80/130.90 and shortly reached below it.

In the case of a recovery of the Franc against the Yen, the rate could encounter resistance in the 132.00 mark, which acted as support during late April and early May. Higher above, note that the 133.35/133.60 zone acted as resistance in late March and the first half of April.

Meanwhile, a decline below the 131.00 level might find support in round exchange rate levels, before reaching the support zone at 127.53/128.20. In addition, take into account that the zone is being crossed by the trend line, which connects the pair's 2021 September and 2022 March low levels.
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