CHF/JPY may rise 64 - 95 pips

Our pivot point is at 176.65.

Our preference

As long as 176.65 is support look for 178.27.

Alternative scenario

Below 176.65, expect 176.12 and 175.81.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 177.17 and 177.08).

Supports and resistances

178.89 **

178.58 *

178.27 **

177.96

177.32 last

176.85

176.65 **

176.12 *

175.81 **

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