CHF/JPY 1H Chart: Rising Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
It is worth pointing out that Swiss franc—yen cross has been coming up in our radars rather often recently. This time we have a very interesting situation in our Rising Wedge pattern—pair is trading very close to the pattern's support; the Stochastic indicator in the short term and technical indicators on aggregate in the medium term sends a very strong "buy" signal giving strong suggestions that pair should bounce from the pattern's support and maintain its bullishness. As we do not have any significant major levels on the way we are likely to see a rather calm and neat, as before, development of the pair.
© Dukascopy Bank SA
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