CHF/JPY may rise 41 - 60 pips

Our pivot point is at 178.97.

Our preference

Our next up target stands at 179.87.

Alternative scenario

Below 178.97, expect 178.64 and 178.44.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 179.15 and 179.24).

Supports and resistances

180.26 **

180.07 *

179.87 **

179.68

179.27 last

179.09

178.97 **

178.64 *

178.44 **

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