Chf/jpy

CHF/JPY intraday: look for a drop towards 109.24 before a bounce
Our pivot point is at 109.24.
Comment:
the RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the pair is above its 20 and 50 MAs (respectively at 109.50 and 109.49).
Alternative scenario:
the downside breakout of 109.24 would call for 108.92 and 108.73.
Our preference:
look for a drop towards 109.24 before a bounce.