CNH/JPY may rise 6 - 8 pips

Our pivot point is at 22.01.

Our preference

Rebound towards 22.14.

Alternative scenario

The downside breakout of 22.01 would call for 21.96 and 21.93.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 22.07 and 22.08).

Supports and resistances

22.20 **

22.17 *

22.14 **

22.12

22.06 last

22.02

22.01 **

21.96 *

21.93 **

Number of asterisks represents the strength of support and resistance levels.