CHF/JPY 4H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Swiss Franc just recently fluctuated with high volatility against the Japanese Yen, as, previously, the currency exchange rate fell drastically due to a breakout of a triangle pattern to the downside. Due to such recent movements a clear descending channel pattern revealed itself. Moreover, the pattern's trend lines have been confirmed numerous times, as the currency pair has shown a tendency to be highly volatile near the levels of significance established by the pattern's lines. At the moment, the currency pair is in limbo near the pattern's resistance line around the level of 114.
© Dukascopy Bank SA
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