CNH/JPY may rise to 21.38 - 21.76

Our pivot point stands at 19.98.

Our preference

Rebound towards 21.76.

Alternative scenario

The downside breakout of 19.98 would call for 19.34 and 18.96.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 20.66 and 21.36).

Supports and resistances

22.52 **

22.14 *

21.76 **

21.38

20.52 last

20.23

19.98 **

19.34 *

18.96 **

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