CHF/JPY may rise 51 - 73 pips

Our pivot point stands at 178.51.

Our preference

Rebound towards 179.64.

Alternative scenario

The downside breakout of 178.51 would call for 178.13 and 177.91.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 178.94 and 179).

Supports and resistances

180.09 **

179.87 *

179.64 **

179.42

178.91 last

178.66

178.51 **

178.13 *

177.91 **

Number of asterisks represents the strength of support and resistance levels.