CNH/JPY may rise to 22.31 - 22.66

21.08 is our pivot point.

Our preference

As long as 21.08 is support look for 22.66.

Alternative scenario

Below 21.08, expect 20.49 and 20.14.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 21.48 and 21.17).

Supports and resistances

23.37 **

23.01 *

22.66 **

22.31

21.56 last

21.31

21.08 **

20.49 *

20.14 **

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