CHF/JPY may rise 64 - 92 pips

Our pivot point is at 175.03.

Our preference

As long as 175.03 is support look for 176.32.

Alternative scenario

The downside breakout of 175.03 would call for 174.57 and 174.30.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 175.34 and 175.16).

Supports and resistances

176.86 **

176.59 *

176.32 **

176.04

175.40 last

175.21

175.03 **

174.57 *

174.30 **

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