NZD/JPY may rise 47 - 70 pips

95.32 is our pivot point.

Our preference

As long as 95.32 is support look for 96.35.

Alternative scenario

Below 95.32, expect 94.95 and 94.73.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 95.59 and 95.37).

Supports and resistances

96.79 **

96.57 *

96.35 **

96.12

95.65 last

95.47

95.32 **

94.95 *

94.73 **

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