CHF/JPY may rise 66 - 100 pips

173.17 is our pivot point.

Our preference

Rebound towards 174.61.

Alternative scenario

The downside breakout of 173.17 would call for 172.61 and 172.28.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 173.77 and 174.10).

Supports and resistances

175.27 **

174.94 *

174.61 **

174.27

173.61 last

173.39

173.17 **

172.61 *

172.28 **

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