CHF/JPY may fall to 168.35 - 170.66

179.47 is our pivot point.

Our preference

Target 168.35.

Alternative scenario

Above 179.47, look for 183.38 and 185.71.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (178.06) but above its 50 period moving average (174.73). Finally, the CHF/JPY has penetrated its lower Bollinger band (175.49).

Supports and resistances

185.71 **

183.38 *

179.47 **

177.93

175.35 last

170.66

168.35 **

166.03 *

163.72 **

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