CNH/JPY may fall 11 - 17 pips

Our pivot point stands at 20.81.

Our preference

Target 20.57.

Alternative scenario

The upside breakout of 20.81, would call for 20.90 and 20.95.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (20.75) but above its 50 period moving average (20.72).

Supports and resistances

20.95 **

20.90 *

20.81 **

20.77

20.74 last

20.63

20.57 **

20.52 *

20.47 **

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