The CHFJPY price has recorded new negative closes below the 176.95 barrier, indicating the formation of negative waves with a decline to 175.95. Subsequently, the price has engaged in sideways trading, potentially gathering momentum for further declines in the near-term and medium-term perspectives.
Given these developments, our outlook remains bearish, with expectations to target the 175.80 level in the short term, followed by further potential support at 175.45, which represents the main target for current trading conditions.
Today’s expected trading range is between 176.65 and 175.55.
Trend Forecast: Bearish
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