CHF/JPY may rise 80 - 119 pips

Our pivot point is at 172.76.

Our preference

The upside prevails as long as 172.76 is support.

Alternative scenario

Below 172.76, expect 172.12 and 171.73.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 173.06 and 173.07). Finally, the CHF/JPY has crossed above its upper Bollinger band (173.35).

Supports and resistances

175.31 **

174.92 *

174.54 **

174.15

173.35 last

173.02

172.76 **

172.12 *

171.73 **

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