CNH/JPY may fall to 19.37 - 19.74

Our pivot point stands at 21.11.

Our preference

The downside prevails as long as 21.11 is resistance.

Alternative scenario

The upside breakout of 21.11, would call for 21.73 and 22.09.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 20.89 and 21.45).

Supports and resistances

22.09 **

21.73 *

21.11 **

20.86

20.60 last

19.74

19.37 **

19.01 *

18.64 **

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