CHF/JPY 4H: Could continue to edge higher

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)BuyBuySell
Aggregate

The Swiss Franc has edged higher by 290 pips or 2.67% against the Japanese Yen since May 7. The currency pair breached the 111.65 area during yesterday's trading sessions.

Everything being equal, buyers could continue to pressure the CHF/JPY exchange rate higher during the following trading sessions. The possible target would be at the 113.00 level.

However, bullish traders could encounter a psychological technical barrier at the 112.00 mark in the nearest future.

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