NZD/JPY may rise 64 - 88 pips

Our pivot point stands at 88.73.

Our preference

Rebound towards 90.01.

Alternative scenario

The downside breakout of 88.73 would call for 88.31 and 88.07.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 89.26 and 89.72).

Supports and resistances

90.51 **

90.26 *

90.01 **

89.77

89.13 last

88.89

88.73 **

88.31 *

88.07 **

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