CHF/JPY intraday: the downside prevails as long as 107.54 is resistance
107.54 is our pivot point.
Comment:
the RSI is below 50. 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 107.35 and 107.34).
Alternative scenario:
above 107.54, look for 107.85 and 108.04.
Our preference:
the downside prevails as long as 107.54 is resistance.