CNH/JPY may rise 11 - 16 pips

Our pivot point is at 20.41.

Our preference

Rebound towards 20.64.

Alternative scenario

Below 20.41, expect 20.32 and 20.27.

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 20.53 and 20.60).

Supports and resistances

20.75 **

20.69 *

20.64 **

20.59

20.48 last

20.44

20.41 **

20.32 *

20.27 **

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