CNH/JPY may rise 10 - 14 pips

Our pivot point stands at 21.59.

Our preference

As long as 21.59 is support look for 21.79.

Alternative scenario

Below 21.59, expect 21.52 and 21.47.

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 below its 20 period moving average (21.65) but above its 50 period moving average (21.64).

Supports and resistances

21.88 **

21.84 *

21.79 **

21.75

21.65 last

21.62

21.59 **

21.52 *

21.47 **

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