CNH/JPY may fall to 21.01 - 21.25

Our pivot point stands at 22.12.

Our preference

Target 21.01.

Alternative scenario

Above 22.12, look for 22.51 and 22.75.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (21.95) but above its 50 period moving average (21.72).

Supports and resistances

22.75 **

22.51 *

22.12 **

21.97

21.75 last

21.25

21.01 **

20.78 *

20.54 **

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