NZD/JPY may rise 41 - 61 pips

Our pivot point stands at 93.56.

Our preference

Rebound towards 94.47.

Alternative scenario

The downside breakout of 93.56 would call for 93.22 and 93.01.

Comment

The RSI is below 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 93.93 and 94.28).

Supports and resistances

94.88 **

94.68 *

94.47 **

94.27

93.86 last

93.69

93.56 **

93.22 *

93.01 **

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