The Swiss Franc has edged lower by 213 pips or 1.80% against the Japanese Yen since last week’s trading sessions. The exchange rate breached the 50– and 200– period SMAs this week.
Technical indicators flash selling signals on the 4H and daily time-frame charts. Most likely, the currency pair could continue to decline during the following trading sessions.
However, the weekly S2 at 116.13 could provide support for the CHF/JPY currency exchange rate in the shorter term.