CNH/JPY may fall 10 - 15 pips

Our pivot point is at 19.85.

Our preference

Target 19.63.

Alternative scenario

The upside breakout of 19.85, would call for 19.93 and 19.98.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (19.81) but above its 50 period moving average (19.77).

Supports and resistances

19.98 **

19.93 *

19.85 **

19.82

19.78 last

19.68

19.63 **

19.59 *

19.54 **

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