The Swiss Franc has been declining in a descending channel pattern against the Japanese Yen since the middle of February. The currency pair fell by 1.06% during last week’s trading sessions.
As for the near future, the CHF/JPY exchange rate could continue to edge lower. Bearish traders are likely to target the 115.00 level during the following trading sessions.
However, given that the currency exchange rate is currently trading near the upper line of the channel pattern, a breakout could occur within today’s session.