CNH/JPY may rise 13 - 20 pips

Our pivot point stands at 20.98.

Our preference

The upside prevails as long as 20.98 is support.

Alternative scenario

Below 20.98, expect 20.87 and 20.81.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 21.06 and 21.07).

Supports and resistances

21.40 **

21.34 *

21.28 **

21.21

21.08 last

21.02

20.98 **

20.87 *

20.81 **

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