CNH/JPY may rise 14 - 20 pips

Our pivot point is at 20.90.

Our preference

Rebound.

Alternative scenario

Below 20.90, expect 20.80 and 20.73.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (20.98) but below its 50 period moving average (21.01).

Supports and resistances

21.32 **

21.26 *

21.19 **

21.13

20.99 last

20.95

20.90 **

20.80 *

20.73 **

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