CHFJPY - From consolidation to distribution. Bullish trend

remains in a long-term uptrend. The market is currently in a correction, but there are signs that it is coming to an end. The uptrend may continue.

The Swiss franc is consistently outperforming the dollar (USD/CHF cannot hold above current levels) and, to an even greater extent, the yen in the CHFJPY pair, driven by geopolitical factors. The SNB’s intervention parameters remain unchanged regardless of the level, while interventions by the Bank of Japan lead only to short-term reactions, and Japan’s national currency continues to depreciate.
The pair is trading within a steady daily uptrend. After rebounding from the 198.65 support level (May 11), the price recovered above 201.50 and is forming a consolidation with a trigger at 202.13; a breakout above this level will strengthen buying pressure

Resistance levels: 203.034
Support levels: 202.13

An attempt to break through the consolidation resistance at 202.13 is forming. The price is correcting for a possible retest of key support before rising. The global trend is expected to continue after a break of 202.13

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