| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The CHF/JPY currency pair has been trading within a descending channel since the beginning of April. The pair has already surpassed the Fibo 23.60% at 110.05.
From a theoretical point of view, it is likely that the exchange rate could continue to trade within the given channel in the medium term. In this case it is likely that the rate could decline to the 108.00 level by the middle of June.
Meanwhile, note that the currency pair is pressured by the 55– and 100-hour moving averages. Thus, if the given channel does not hold, it is likely that a breakout south could occur within the following trading sessions.