The price actions of CHF/JPY have staged the expected rally and hit the resistance levels of 166.60 and 167.90/168.30 as highlighted in our report. The cross pair printed an intraday high of 168.42 on 20 October 2023.
Sentiment is: Negative
CHF/JPY was identified at around 167.955 having recently rebounded of the support on the 30 Minutes data interval. Ultimately, the price action of the stock has formed a Channel Up pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 168.6242 level.
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