Significant volatility has recently appeared on the CHFJPY currency pair. This is indicated by the significant extension of Bollinger bands. As can be seen on the daily chart below, the pair on Friday already closed above the round level of 113.00. In turn, this week the course on closing of the day rose above the maximum in July.
However, the biggest increase took place during yesterday, where the range from mins to maxima reached the level of around 140 pips, and the quotations closed outside the Bollinger band. At the same time, the price was at levels that we were able to see last February.
The currently broken resistance area within 113.00 is playing the role of support where you can look for shopping opportunities that are in line with the prevailing momentum. In the event of a correction, it is also worth observing the reaction to the 20-day average (internal Bollinger band), which is over 280-pips away from the current price levels.