CNH/JPY may rise 12 - 18 pips

Our pivot point is at 19.73.

Our preference

Rebound towards 19.99.

Alternative scenario

The downside breakout of 19.73 would call for 19.64 and 19.58.

Comment

The RSI is below its neutrality area at 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 19.84 and 19.90).

Supports and resistances

20.10 **

20.04 *

19.99 **

19.93

19.81 last

19.77

19.73 **

19.64 *

19.58 **

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