Following the sharp move lower in USDJPY resulting in a fall of nearly 6% in CNHJPY it looks like USDCNH may be about to play catchup.
Following the hold of the 76.4% pullback level it now looks in danger of posting both a bearish outside week and a bearish outside month on closes below 7.2606 and 7.2412. respectively.
This would suggest losses to at least the 76.4% pivot ay 7.0875 and if that gives way an acceleration even lower