CNH/JPY may rise 6 - 8 pips

Our pivot point stands at 21.65.

Our preference

Rebound towards 21.78.

Alternative scenario

The downside breakout of 21.65 would call for 21.61 and 21.58.

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 21.72 and 21.75).

Supports and resistances

21.84 **

21.81 *

21.78 **

21.76

21.70 last

21.67

21.65 **

21.61 *

21.58 **

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