CHF/JPY may rise 69 - 102 pips

Our pivot point is at 166.13.

Our preference

As long as 166.13 is support look for 167.61.

Alternative scenario

The downside breakout of 166.13 would call for 165.58 and 165.26.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 166.55 and 166.41).

Supports and resistances

168.27 **

167.94 *

167.61 **

167.28

166.59 last

166.35

166.13 **

165.58 *

165.26 **

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