NZD/JPY may rise 36 - 51 pips

Our pivot point is at 98.33.

Our preference

As long as 98.33 is support look for 99.12.

Alternative scenario

The downside breakout of 98.33 would call for 98.07 and 97.92.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 98.51 and 98.35).

Supports and resistances

99.42 **

99.27 *

99.12 **

98.97

98.61 last

98.42

98.33 **

98.07 *

97.92 **

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