The CHF/JPY is trading in a daily ascending channel. The channel is anchored at 101.85 from July 06, 2013 which is just above the 61.8% Fib Retracement level, and has tested the lower band 3 times with the second touch coming at the support level and 38.2% Fibo at 103.81. Mr. Bernanke and US data gave the markets a shove today, which also pushed the CHF/JPY back to the upside after being bearish most of last week. Should the channel hold as it seems to be, we should see this pair move to the top of the channel at around 107.50 which is also the Monthly R1, bearing in mind that we have additional resistance at 106.67 aka the Weekly R1, and the Non Farm Payrolls even in the US on Friday.
