Descending Triangle – CHFJPY at the lower high zone

CHFJPY Triangle Analysis

CHFJPY has formed a descending triangle by creating lower highs and equal lows in the 4-hour chart

Now, CHFJPY stands at the top zone (lower high) of the Triangle.

Let’s wait for the confirmation of reversal or breakout.

Bank of japan tokyo forex

Bank of Japan is not expected to alter its monetary policy tools in the near term and Central bank is purchasing trillions of Yen each year, but inflation is not moving to the target of 2%.

Japan’s exports were dull due to overall global pandemic situations where the consumers were lower. So Japanese Yen gets weaker against major currencies.

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