CHF/JPY may rise 66 - 97 pips

Our pivot point stands at 176.46.

Our preference

The upside prevails as long as 176.46 is support.

Alternative scenario

Below 176.46, expect 175.94 and 175.63.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 176.67 and 176.65).

Supports and resistances

178.48 **

178.17 *

177.86 **

177.55

176.89 last

176.67

176.46 **

175.94 *

175.63 **

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