CNH/JPY may fall 7 - 10 pips

21.82 is our pivot point.

Our preference

Under pressure below 21.82.

Alternative scenario

The upside breakout of 21.82, would call for 21.87 and 21.90.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 21.80 and 21.78).

Supports and resistances

21.90 **

21.87 *

21.82 **

21.80

21.78 last

21.71

21.68 **

21.65 *

21.62 **

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