CHF/JPY may fall to 161.21 - 163.64

Our pivot point is at 172.56.

Our preference

The downside prevails as long as 172.56 is resistance.

Alternative scenario

Above 172.56, look for 176.66 and 179.10.

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 170.43 and 174.05).

Supports and resistances

179.10 **

176.66 *

172.56 **

170.95

169.23 last

163.64

161.21 **

158.78 *

156.36 **

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