CNH/JPY may rise 11 - 16 pips

20.12 is our pivot point.

Our preference

Rebound towards 20.37.

Alternative scenario

Below 20.12, expect 20.03 and 19.97.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 20.21 and 20.31).

Supports and resistances

20.48 **

20.43 *

20.37 **

20.32

20.21 last

20.15

20.12 **

20.03 *

19.97 **

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