Chf/jpy. Give me analysis for today

The CHF/JPY pair is currently showing signs of potential pullback, with a focus on the upcoming Bank of Japan (BoJ) meeting. Here's a detailed analysis for today:

1. Technical Indicators:
   • The pair is trading above its 50-day SMA of 159.55 and below its 200-day SMA of 170.3, indicating a short-term bullish trend but a longer-term bearish trend.
   • The Moving Average Convergence Divergence (MACD) is positive, suggesting upward momentum.
   • The Relative Strength Index (RSI) is above 50, indicating bullish momentum.
2. Support and Resistance Levels:
   • The support level for the CHF/JPY pair is at 173.924, and the resistance level is at 175.5.
   • The pair is currently trading near the 175.0 level, which could be a point of interest for buyers and sellers.
3. Recent Economic Data:
   • The BoJ meets next week, and the market is speculating about a potential tweak in the Bank's Yield Curve Control (YCC) policy.
   • The Swiss National Bank (SNB) has been reducing policy rates, which could weaken the CHF and provide some support to the CHF/JPY pair from the CHF side.
4. Market Sentiment:
   • The sentiment in the CHF/JPY market is cautious, with a focus on the upcoming BoJ meeting and its potential impact on the pair.
   • The forecasted decrease in the CHF/JPY exchange rate aligns with the bearish sentiment reflected in the potential breakdown of the support level.

In conclusion, while there are signs of bullish momentum and potential for upward movement in the CHF/JPY pair, the focus on the upcoming BoJ meeting and the potential for a tweak in the Bank's YCC policy suggests that traders should exercise caution and consider the potential for a pullback or consolidation until the meeting outcome is clear.