CHF/JPY recently broke the “neckline’ of the 4-hour Inverse Head and Shoulders chart pattern that was previously identified by Autochartist – as you can see from the following trade opportunity alert for this currency pair. CHF/JPY is expected to rise to the target level 108.95 in the next 17 trading hours. Autochartist set the stop-level for this forecast at 107.40 (point A, the level of the “right shoulder”). This chart pattern breakout follows the recent sharp upward reversal from the strong support area (at C, the “head” of this chart pattern) lying at the intersection of the support trendline of the daily Up Channel from June and the Fibonacci Cluster made out of the 61.8%, 50% and 38.2% Fibonacci Retracements of the 3 recent upward price moves from June, October and November (as you can see on the second chart below).
The following daily CHF/JPY chart shows the aforementioned support levels: 
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Daily Forex Update: CHF/JPY
Published 10/21/2013, 03:55 AM
Updated 03/09/2019, 08:30 AM
Daily Forex Update: CHF/JPY
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Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
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