Analysis of the franc-yen pair

At the economic level

The CHFJPY pair fluctuates between ups and downs during the past period obliquely upward, considering that the two currencies, the Japanese yen and the Swiss franc are safe haven currencies, as each of them rose against most other currencies during the Daily statements by Trump to impose and then postpone these tariffs.

In light of the scarcity of economic data from both economies during the current period.

At the technical level

CHF/JPY has now reached near the levels of the downtrend on the daily frame at the levels of 173.40, from which the pair is trying to bounce down towards the levels of 171.50 at least during the coming period.

As for if the trend is broken and closes higher with a daily candle, the forecasts indicate that the pair will complete the bat Harmonic Pattern, which will be near the levels of 174.75 until 175.00, from which we will have to sell to target the levels of 171.50 as well and then 168.10.

This scenario fails if the 176.10 levels break higher.