CHF/JPY may fall to 162.45 - 164.88

Our pivot point is at 173.86.

Our preference

The downside prevails as long as 173.86 is resistance.

Alternative scenario

Above 173.86, look for 177.98 and 180.43.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 173.58 and 174.85).

Supports and resistances

180.43 **

177.98 *

173.86 **

172.24

170.34 last

164.88

162.45 **

160.01 *

157.57 **

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