Forex
Dollar Divergence as CHF/JPY Approaches Key Resistance
The US dollar's performance is mixed across major currency pairs, according to FOREX.com. While USD/CHF maintains its strong bullish structure, momentum on USD/JPY is waning.
A closer look at CHF/JPY suggests that it may be approaching a resistance cluster, which could lead to renewed Swiss franc outperformance against the Japanese yen.
The technical analysis of USD/CHF reveals a strong trend structure, with a rally forming from its lower trend channel since August. The monthly R1 pivot point and 0.7156 high are nearby as potential support for the currency pair.
On the other hand, USD/JPY's current rally is showing signs of losing steam, with the weekly pivot near 159 indicating that upside could be limited.