CHF/JPY may rise 72 - 107 pips

Our pivot point is at 170.04.

Our preference

The upside prevails as long as 170.04 is support.

Alternative scenario

Below 170.04, expect 169.44 and 169.09.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 169.97 and 169.94).

Supports and resistances

172.38 **

172.03 *

171.67 **

171.32

170.60 last

170.27

170.04 **

169.44 *

169.09 **

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