CHF/JPY may rise 83 - 121 pips

Our pivot point stands at 169.55.

Our preference

Our next up target stands at 171.32.

Alternative scenario

Below 169.55, expect 168.90 and 168.51.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 169.98 and 170.08).

Supports and resistances

172.09 **

171.71 *

171.32 **

170.94

170.11 last

169.80

169.55 **

168.90 *

168.51 **

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