NZD/JPY may rise 50 - 74 pips

Our pivot point stands at 89.99.

Our preference

Rebound towards 91.08.

Alternative scenario

The downside breakout of 89.99 would call for 89.60 and 89.36.

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 90.36 and 90.49).

Supports and resistances

91.55 **

91.31 *

91.08 **

90.84

90.34 last

90.15

89.99 **

89.60 *

89.36 **

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