CHF/JPY 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having reached a one-month high of 116.89 early May, the Swiss Franc commenced long-lasting depreciation against the Japanese Yen. While losing its value, the pair entered a downswing sloping corridor that now is 80-bar long.
At the moment, the pair is trading not far away from a four-month low of 113.04 it hit on May 29 and given the overall bearish tendency as well as technical signals, we may expect CHF/JPY to re-approach the recent low and even to dive below this mark in the hours to come. Technical signals are pointing to a weakness of the pair in both short and long-term perspective.
© Dukascopy Bank SA
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