NZD/JPY may rise 49 - 70 pips

Our pivot point stands at 94.94.

Our preference

The upside prevails as long as 94.94 is support.

Alternative scenario

Below 94.94, expect 94.59 and 94.38.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 95.06 and 94.94).

Supports and resistances

96.32 **

96.12 *

95.91 **

95.70

95.21 last

95.07

94.94 **

94.59 *

94.38 **

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