CNH/JPY may rise to 21.97 - 22.36

Our pivot point stands at 20.57.

Our preference

The upside prevails as long as 20.57 is support.

Alternative scenario

Below 20.57, expect 19.91 and 19.51.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 20.86 and 20.50).

Supports and resistances

23.16 **

22.76 *

22.36 **

21.97

21.16 last

20.83

20.57 **

19.91 *

19.51 **

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