CNH/JPY may fall 13 - 19 pips

21.04 is our pivot point.

Our preference

Technical rebound towards 21.04 before a new drop.

Alternative scenario

The upside breakout of 21.04, would call for 21.15 and 21.21.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (20.96) but below its 50 period moving average (20.96).

Supports and resistances

21.21 **

21.15 *

21.04 **

21.00

20.96 last

20.83

20.77 **

20.71 *

20.65 **

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