CHF/JPY 4H Chart: Triple Bottom

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
CHF/JPY is about to breach the neck-line of the 136-bar long triple bottom pattern that was shaped on January 1. If the pair manages to gain a footing above this important resistance it is likely to witness an accelerating advance in the hours to come. According to the SWFX data, the currency pair is capable to consolidate above the pattern's resistance given that 66.67% of traders are betting on further appreciation of the Swiss Franc versus the Japanese Yen.
© Dukascopy Bank SA
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