The CHF/JPY pair is in the midst of a bearish trend, and has recently dropped to the 85.20 level. Nevertheless, technical analysis indicates that a bullish correction may be impending, as a bullish cross has taken place on both the Slow Stochastic and the RSI. In addition, the Bollinger Bands have tightened, suggesting that a sharp move should take place soon. The next resistance level is located at the 85.90 level. If the pair will manage to cross the resistance level, it looks to reach the 86.40 level.
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Yan Petters is a top analyst of market trends who specializes in the forex market. Yan has a reputation for composing highly accurate analytical reports, both technical and fundamental. Yan Petters' ground-breaking perspectives on currency trends are highly valued by his colleagues and clients and has been a featured author on a number of influential trading sites. Yan Petters is an author for the ForexYard blog
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