| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Neutral | Buy |
| Stochastic (5; 3) | Neutral | Neutral | Buy |
| Alligator (13; 8; 5) | Neutral | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇗ |
The price movement of the CHF/JPY exchange rate has been constrained by a dominant descending pattern. The currency pair re-tested the upper boundary of the channel on April 26 and followed by the second wave of decline.
A strong resistance set by the combination of the 100– and the 200– hour SMAs has proved to have enough strength to push the rate further south. The currency exchange rate has reached the 61.80% Fibonacci retracement level. This retracement can be measured by connecting the low at 108.53 and the high at 111.58.
Everything being equal, it is likely that the bulls could gain enough momentum to break out from the resistance cluster formed by the weekly, the monthly PPs and the 55– hour simple moving average near 109.64.