NZD/JPY may rise 55 - 80 pips

Our pivot point is at 88.88.

Our preference

Rebound towards 90.11.

Alternative scenario

The downside breakout of 88.88 would call for 88.47 and 88.22.

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 89.35 and 89.93).

Supports and resistances

90.60 **

90.36 *

90.11 **

89.86

89.31 last

89.05

88.88 **

88.47 *

88.22 **

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