CHF/JPY: Threatening to break below a key support – Credit Suisse

Analysts at Credit Suisse are closely watching the CHF/JPY pair as it is near to break a key support level.  

Key quotes

“CHF/JPY is threatening to break below key support at the 61.8% retracement of the 2019/2020 rise and March low at 109.66/58, having already cleared the 200-day average.” 

“A closing break below 109.66/58 would suggest a deeper fall, with next supports at 108.84, then the 78.6% retracement at 108.38.”

“Resistance at 110.59/66 ideally caps.”