CHF/JPY 1H Chart: Double Top

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A rare double top pattern was formed by CHF/JPY 247 hours ago, and there is a possibility the pattern will be completed soon, as the price is approaching the support line. In case this level is breached, the pair will be followed by lower prices and we will see a hike in trading volume. However, in case of a pullback, a movement to the top, and therefore a formation of either triple top or rectangle is expected. Nevertheless, 73% of all market participants are selling the Swiss Franc versus the Japanese Yen, seeing the pair dropping below the support line.
© Dukascopy Bank SA
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