CHF/JPY may rise to 179.05 - 181.73

Our pivot point is at 169.39.

Our preference

The upside prevails as long as 169.39 is support.

Alternative scenario

The downside breakout of 169.39 would call for 164.91 and 162.24.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 170.51 and 170.90).

Supports and resistances

187.08 **

184.40 *

181.73 **

179.05

173.01 last

171.15

169.39 **

164.91 *

162.24 **

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