CHF/JPY may fall 78 - 114 pips

Our pivot point stands at 173.68.

Our preference

Eye 172.03.

Alternative scenario

Above 173.68, look for 174.28 and 174.64.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under its 20 period moving average (173.32) but above its 50 period moving average (173.13).

Supports and resistances

174.64 **

174.28 *

173.68 **

173.44

173.17 last

172.39

172.03 **

171.67 *

171.31 **

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