CNH/JPY may rise 13 - 19 pips

Our pivot point is at 20.95.

Our preference

As long as 20.95 is support look for 21.22.

Alternative scenario

The downside breakout of 20.95 would call for 20.85 and 20.79.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 21.03 and 21).

Supports and resistances

21.35 **

21.29 *

21.22 **

21.16

21.03 last

20.99

20.95 **

20.85 *

20.79 **

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