The Swiss Franc has been constrained by a descending channel against the Japanese Yen after hitting the upper boundary of a junior channel on February 2.
The currency exchange rate has been stranded between pivot points and SMAs. The weekly R1 and the 100– hour simple moving average was restricting the rate from making any upward move while the weekly PP combined with the 55-hour SMA was supporting the pair from falling.
A breakout is expected from the aforementioned cluster to either direction. In addition, technical indicators favour a breakout through the upper boundary of the junior pattern.
The currency exchange rate has been stranded between pivot points and SMAs. The weekly R1 and the 100– hour simple moving average was restricting the rate from making any upward move while the weekly PP combined with the 55-hour SMA was supporting the pair from falling.
A breakout is expected from the aforementioned cluster to either direction. In addition, technical indicators favour a breakout through the upper boundary of the junior pattern.