CHF/JPY may rise 84 - 117 pips

Our pivot point stands at 172.19.

Our preference

Rebound towards 173.91.

Alternative scenario

The downside breakout of 172.19 would call for 171.64 and 171.31.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 173.01 and 173.51).

Supports and resistances

174.56 **

174.24 *

173.91 **

173.58

172.74 last

172.41

172.19 **

171.64 *

171.31 **

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