CHF/JPY may rise to 176.86 - 179.37

Our pivot point stands at 168.16.

Our preference

As long as 168.16 is support look for 179.37.

Alternative scenario

The downside breakout of 168.16 would call for 163.94 and 161.43.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 171.01 and 169.47).

Supports and resistances

184.40 **

181.89 *

179.37 **

176.86

171.60 last

169.81

168.16 **

163.94 *

161.43 **

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