CHF/JPY 1H Chart: Channel Up

However, being that the upper rising trend-line has been confirmed only on few occasions, unlike the lower one, which has already proved to be reliable, there is still a possibility that CHF/JPY may be trading either in an emerging ascending wedge or triangle. Accordingly, for now we would rather focus on the support at 114.92, which is supposed to withstand the selling pressure for any of the cases to be true. If it does not trigger buying, there are strong demand areas at 114.70 and 114.30.