CNH/JPY may rise 11 - 17 pips

21.31 is our pivot point.

Our preference

As long as 21.31 is support look for 21.57.

Alternative scenario

Below 21.31, expect 21.21 and 21.15.

Comment

The RSI is above 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 21.39 and 21.38).

Supports and resistances

21.69 **

21.63 *

21.57 **

21.51

21.40 last

21.34

21.31 **

21.21 *

21.15 **

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