CHF/JPY intraday: the upside prevails as long as 109.26 is support
109.26 is our pivot point.
Comment:
the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 109.38 and 109.17).
Alternative scenario:
the downside breakout of 109.26 would call for 108.94 and 108.75.
Our preference:
the upside prevails as long as 109.26 is support.
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