CHF/JPY may fall 72 - 107 pips

169.74 is our pivot point.

Our preference

The downside prevails as long as 169.74 is resistance.

Alternative scenario

Above 169.74, look for 170.33 and 170.68.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 169.58 and 170.19).

Supports and resistances

170.68 **

170.33 *

169.74 **

169.51

169.22 last

168.50

168.15 **

167.80 *

167.45 **

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