CHF/JPY 4H Chart: Broadening Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since the middle of October, CHF/JPY started to appreciate rather rapidly, meanwhile, this advance has pushed the pair into a broadening rising wedge.
Already twice the pair has exited the pattern's trading range and by doing that it is showing some signs of willingness to break the pattern to the down-side. However, at the same time the 4H and daily technical studies are pointing to the north. It will be important whether the daily and weekly PPs at 122.17/07 will hold the selling pressure. In our opinion the levels might be breached due to the fact that as many as 71.87% of the SWFX market participants expect the Swissy to underperform relative to the Yen.
© Dukascopy Bank SA
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