NZD/JPY may rise 30 - 45 pips

98.41 is our pivot point.

Our preference

As long as 98.41 is support look for 99.11.

Alternative scenario

Below 98.41, expect 98.16 and 98.01.

Comment

The RSI is above 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 98.63 and 98.50).

Supports and resistances

99.41 **

99.26 *

99.11 **

98.96

98.66 last

98.51

98.41 **

98.16 *

98.01 **

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