CHF/JPY may fall 41 - 61 pips

Our pivot point stands at 180.12.

Our preference

Technical rebound towards 180.12 before a new drop.

Alternative scenario

Above 180.12, look for 180.45 and 180.64.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (179.77) but under its 50 period moving average (179.79).

Supports and resistances

180.64 **

180.45 *

180.12 **

179.99

179.78 last

179.37

179.17 **

178.97 *

178.78 **

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