The Swiss franc fell by 177 points or 1.50% against the Japanese yen in last week’s trading sessions. The CHF / JPY currency pair crossed the 116.00 level last week.
All other things being equal, the exchange rate may continue to fall in the following trading sessions. An outbreak through the lower limit of an increasing channel pattern is likely to occur.
However, the simple moving averages of the 50 and 100 periods of 116.55 could provide support for the exchange rate in the short term.