NOK/JPY may rise 688 - 1088 pips

15.10 is our pivot point.

Our preference

The upside prevails as long as 15.10 is support.

Alternative scenario

The downside breakout of 15.10 would call for 15.04 and 15.01.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 15.11 and 15.09). Finally, the NOK/JPY has crossed above its upper Bollinger band (15.17).

Supports and resistances

15.35 **

15.31 *

15.28 **

15.24

15.17 last

15.12

15.10 **

15.04 *

15.01 **

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