CHFJPY Chart Technical Outlook set to correct after the Yen surge, 172.36 in play
The Yen surged across the board after the Bank of Japan raised rates, and more importantly, opened the door to several more moves. I expect an upside correction today. The Swiss franc has room to rise on mounting Mid-East tensions.
Resistance is at 171.50, followed by 172.36, which is a strong line. Support is at 169.49, then 167.74.
The broad trend remains to the downside, both fundamentally and technically.
