Autochartist has recently identified the high Clarity Up Channel chart pattern on the 4-hour CHF/JPY charts. The overall Quality of this chart pattern is measured at the 7 bar level as a result of the maximum Initial Trend and Clarity (both rated at the 10 bar level) and the low Uniformity (2 bars). The high Initial Trend reflects the strength of the preceding sharp downward price impulse from the major long-term resistance at 91.5 (which has been reversing the pair down multiple times over the last few years, as is shown on the second chart below). The top of this chart pattern (point B on the chart below) formed when the pair failed to stay above the aforementioned strong resistance 91.5. The pair is expected to fall further in the nearest time.
The weekly CHF/JPY chart below shows the previous price action close to the major resistance 91.5: