CHF/JPY 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Swiss Franc has been advancing against the Japanese Yen for more than week; the pair has formed a channel up pattern, moving in the corridor of two upward sloping lines and touching these bounds four times, meaning that the magnitude is relatively high. Recently, the currency couple peaked at more than a two-year high of 109.74 but failed to consolidate at this mark and sharply retreated to the lower boundary of the pattern, close to which it is trading now. According to the SWFX data, market participants consider that the selloff was deep enough to mollify the downward pressure and allow the pair to recover some of the losses; 58.97% of traders bet on the appreciation of the pair.
© Dukascopy Bank SA
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