| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Neutral | Sell |
| Alligator (13; 8; 5) | Neutral | Sell | Neutral |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
The Swiss Franc has depreciated substantially against the Japanese Yen since early February when it was located near the 118.50 mark. This downward-sloping movement has been guided in a descending channel. The Franc failed to reach its bottom boundary last week, suggesting that this bearish formation might not hold any longer.
The strong hourly surge mid-session sent technical indicators in the strongly bearish area. Thus, it is likely that bulls relieve their upside pressure and allow for a short-term correction towards the 55– and 100-hour SMAs circa 112.80 or the weekly S1 at 111.95 if strong downside risks prevail in the market.
However, the pair should eventually breach the 200-hour SMA during the following trading sessions and approach the lower boundary of the previously-breached senior channel near 114.75.