CNH/JPY may rise 12 - 17 pips

20.27 is our pivot point.

Our preference

Rebound towards 20.53.

Alternative scenario

The downside breakout of 20.27 would call for 20.18 and 20.13.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 20.37 and 20.39).

Supports and resistances

20.64 **

20.58 *

20.53 **

20.48

20.36 last

20.31

20.27 **

20.18 *

20.13 **

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