CHF/JPY 4H Chart: Decline likely to continue

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate⇘⇘⇒

[ANNOUNCE]The Swiss Franc has edged lower by 213 pips or 1.80% against the Japanese Yen since last week's trading sessions. The exchange rate breached the 50– and 200– period SMAs this week.[/ANNOUNCE]

Technical indicators flash selling signals on the 4H and daily time-frame charts. Most likely, the currency pair could continue to decline during the following trading sessions.

However, the weekly S2 at 116.13 could provide support for the CHF/JPY currency exchange rate in the shorter term.

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