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Chf/jpy

Posted on the 22 October 2019 by Merks50

CHF/JPY intraday: the downside prevails as long as 110.37 is resistance
Our pivot point stands at 110.37.
Comment:
the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 110.15 and 110.14).
Alternative scenario:
the upside breakout of 110.37, would call for 110.69 and 110.87.
Our preference:
the downside prevails as long as 110.37 is resistance.