CHF/JPY – Currency exchange rate forecast 23.08.2019: the downside prevails as long as 108.30 is resistance

CHF/JPY - Currency exchange rate forecast 23.08.2019: the downside prevails as long as 108.30 is resistance

Alternative scenario: the upside breakout of 108.30 would call for 108.62 and 108.80.

Our pivot point stands at 108.30.

Our preference: the downside prevails as long as 108.30 is resistance.

Alternative scenario: above 108.30, look for 108.62 and 108.80.

Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 108.16 and 108.20).

Supports and resistances:

108.80 **

108.62 *

108.30 **

108.18

108.01 last

107.64

107.45 **

107.27 *

107.08 **

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