CHFJPY is Currently Trading in a Falling Wedge

CHFJPY has been experiencing a bullish trend since January 2023. From 137.50, the price is going up. Last month, we saw that the high price of CHFJPY was 166.50, and after that, it has gone down. We have identified a pattern of falling wedge. Breaking the wedge resistance will result in a higher price, as we believe.

TP - 166.30
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The CHFJPY currency pair was initially expected to maintain its position within the support zone at 163.90. However, it exceeded this support level and experienced a further decline. As a result, our current prediction is that the price will continue to drop, potentially reaching 162.50.