CHFJPY UPDATE

CHFJPY UPDATE

CHF/JPY on the 4H chart has been in a clear descending channel for the past three weeks, falling from around 198.50 to a low near 187.90 before finding support at the lower boundary of the channel. Price has now broken above the upper trendline of the channel near the 189.50 level, currently trading at 189.538, which suggests a possible shift from bearish to bullish momentum. The chart projects a continuation higher toward the 192–193 zone if this breakout holds and gains follow-through, though confirmation is still needed since price has only just cleared the trendline. Two upcoming event markers on September 16 and 18 are worth watching, as they could inject volatility that either supports or invalidates this emerging bullish setup.