The franc-yen pair rose during today's trading on Monday at the beginning of the week, in light of weak data from Switzerland and Japan at the beginning of the week, as Swiss retail sales fell today by less than expectations.
Tomorrow we are waiting for Swiss inflation data from Switzerland and expectations of its stability at -0.1%.
At the technical level:
the franc-yen pair rose today near the Fibo 50 and 61 cluster levels and also the very strong resistance level of 174.30, from which the pair rebounded with a reversal candle as the levels of the broken uptrend were retested on the four-hour frame.
The pair is targeting the levels of 173.00 and then the levels of 171.00 in the near term.
This scenario fails if 174.50 is breached by a candle for at least 4 hours.
