CHFJPY Chart Technical Outlook

CHFJPY Chart Technical Outlook upside attempts are likely to be capped at the 164.00 area,

The Swiss Franc maintains a moderately bid tone on Friday, yet with price action trapped within a downward channel from early September highs.

The weak inflation levels seen earlier this week have curbed expectations of further SNB tightening, which is expected to keep CHF’s bullish attempts limited.

In this scenario, I would expect the resistance area at 163.90 / 164.00, where trendline resistance meets previous support, to hold rallies.

Supports are 161.70 and 160.60.

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