Chf/jpy

CHF/JPY intraday: the downside prevails as long as 109.03 is resistance
Our pivot point stands at 109.03.
Comment:
the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 109.01 and 109.11).
Alternative scenario:
the upside breakout of 109.03, would call for 109.34 and 109.53.
Our preference:
the downside prevails as long as 109.03 is resistance.