NZD/JPY may rise 33 - 48 pips

Our pivot point stands at 98.13.

Our preference

Rebound towards 98.84.

Alternative scenario

The downside breakout of 98.13 would call for 97.87 and 97.73.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 98.42 and 98.52).

Supports and resistances

99.14 **

98.99 *

98.84 **

98.69

98.36 last

98.23

98.13 **

97.87 *

97.73 **

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