CHF/JPY intraday: above its upper Bollinger band
Our pivot point stands at 108.56.
Comment:
the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 108.64 and 108.59). Finally, the CHF/JPY has crossed above its upper Bollinger band (108.85).
Alternative scenario:
the downside breakout of 108.56 would call for 108.25 and 108.06.
Our preference:
the upside prevails as long as 108.56 is support.