CHF/JPY may fall 67 - 99 pips

Our pivot point is at 177.48.

Our preference

The downside prevails as long as 177.48 is resistance.

Alternative scenario

Above 177.48, look for 178 and 178.31.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 177.12 and 177.14).

Supports and resistances

178.31 **

178.00 *

177.48 **

177.27

177.02 last

176.35

176.03 **

175.72 *

175.41 **

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