CNH/JPY may rise 13 - 19 pips

20.95 is our pivot point.

Our preference

The upside prevails as long as 20.95 is support.

Alternative scenario

Below 20.95, expect 20.84 and 20.78.

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 is trading above both its 20 and 50 period moving average (respectively at 20.99 and 21.01). Finally, the CNH/JPY has crossed above its upper Bollinger band (21.03).

Supports and resistances

21.35 **

21.29 *

21.23 **

21.17

21.04 last

20.99

20.95 **

20.84 *

20.78 **

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