CNH/JPY may rise 6 - 9 pips

Our pivot point stands at 22.10.

Our preference

As long as 22.10 is support look for 22.24.

Alternative scenario

Below 22.10, expect 22.05 and 22.02.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 22.14 and 22.12).

Supports and resistances

22.30 **

22.27 *

22.24 **

22.21

22.15 last

22.11

22.10 **

22.05 *

22.02 **

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