CHF/JPY may fall to 165.99 - 168.43

Our pivot point is at 178.12.

Our preference

The downside prevails as long as 178.12 is resistance.

Alternative scenario

Above 178.12, look for 182.26 and 184.72.

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 177.15 and 174.98).

Supports and resistances

184.72 **

182.26 *

178.12 **

176.50

174.59 last

168.43

165.99 **

163.55 *

161.11 **

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