CNH/JPY may rise 12 - 18 pips

Our pivot point stands at 20.33.

Our preference

Rebound.

Alternative scenario

The downside breakout of 20.33 would call for 20.23 and 20.18.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (20.41) but below its 50 period moving average (20.43).

Supports and resistances

20.72 **

20.66 *

20.61 **

20.55

20.43 last

20.36

20.33 **

20.23 *

20.18 **

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