CHF/JPY may rise to 179.66 - 182.12

Our pivot point stands at 170.46.

Our preference

The upside prevails as long as 170.46 is support.

Alternative scenario

The downside breakout of 170.46 would call for 166.35 and 163.91.

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 172.16 and 170.28).

Supports and resistances

187.04 **

184.58 *

182.12 **

179.66

173.78 last

172.07

170.46 **

166.35 *

163.91 **

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