CHF/JPY 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
While currency markets opened in chaos with a weakening US Dollar, surging Aussie and several other developments caused by fundamental events, such as Donald Trump's speech and promising Australian jobs data, CHF/JPY did not break any patterns, suggesting that investors might be pushing their funds into both safe-haven currencies amid rising uncertainty. The pair stuck to the bottom trend-line of the channel down pattern on the four-hour chart, making a surge to the upper boundary around 109.45 the base scenario, while keeping downside risks in the back of our mind due to the stickiness of 108.58. Due to the severely clustered area the pair is stuck inside of, a flat movement might prevail until any targets are set.
© Dukascopy Bank SA
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