CHF/JPY may fall 51 - 76 pips

Our pivot point stands at 178.69.

Our preference

The downside prevails as long as 178.69 is resistance.

Alternative scenario

Above 178.69, look for 179.11 and 179.36.

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 price stands below its 20 and 50 period moving average (respectively at 178.44 and 178.46).

Supports and resistances

179.36 **

179.11 *

178.69 **

178.53

178.25 last

177.74

177.49 **

177.24 *

176.99 **

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