CHF/JPY may rise 92 - 130 pips

Our pivot point is at 170.59.

Our preference

As long as 170.59 is support look for 172.44.

Alternative scenario

Below 170.59, expect 169.94 and 169.55.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (171.17) but above its 50 period moving average (170.31).

Supports and resistances

173.22 **

172.83 *

172.44 **

172.06

171.14 last

170.85

170.59 **

169.94 *

169.55 **

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