FX.co ★ CHF/JPY

Hello traders, Currently, the Japanese yen appears slightly stronger than the Swiss franc. However, the current modest decline in CHFJPY is just a pullback, which could easily push the price towards 180.80+/-. As it approaches 180.80, there is a high probability of a rebound and continuation of the uptrend with the initial target at the previous high (181.75). The Swiss franc is strengthening successfully against the backdrop of a weak dollar, and in the currency pair CHFJPY, the weakness of the yen is also aiding it, creating a potent mix. The price of CHFJPY has already reached unprecedented levels, and it may seem like there is no further room for growth, but for yen pairs, nothing is impossible. After consolidating above 181.75, a rise to 182.50 is quite realistic, and possibly even higher, depending on the news. For selling, a price consolidation below at least 179.50 is needed to have a chance to continue the decline to 178.30, but it is still too early to think about that; the main direction remains to the north.