CHF/JPY Analysis: bearish momentum is building as the price attempts to break a key support level

CHF/JPY chart and technical analysis CHF/JPY has been bullish for the last couple of years and the price has made an all-time high at 171.550. However

Sentiment is: Negative

Technical Analysis

CHF/JPY was identified at around 170.558 having recently rebounded of the resistance on the 4 hour data interval. Ultimately, the price action of the stock has formed a Descending Triangle pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 169.6103 level.

CHF/JPY - Continuation Chart Pattern - Descending Triangle

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