CHF/JPY may rise 80 - 113 pips

Our pivot point is at 173.49.

Our preference

Rebound towards 175.06.

Alternative scenario

Below 173.49, expect 172.94 and 172.61.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 174 and 174.52).

Supports and resistances

175.72 **

175.39 *

175.06 **

174.73

173.93 last

173.71

173.49 **

172.94 *

172.61 **

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