CNH/JPY may rise to 21.98 - 22.41

Our pivot point stands at 20.34.

Our preference

The upside prevails as long as 20.34 is support.

Alternative scenario

The downside breakout of 20.34 would call for 19.62 and 19.19.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 20.66 and 20.44).

Supports and resistances

23.28 **

22.85 *

22.41 **

21.98

20.91 last

20.63

20.34 **

19.62 *

19.19 **

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