NZD/JPY may rise 50 - 74 pips

Our pivot point stands at 88.71.

Our preference

Rebound towards 89.80.

Alternative scenario

Below 88.71, expect 88.29 and 88.05.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 89.08 and 89.18).

Supports and resistances

90.30 **

90.05 *

89.80 **

89.56

89.06 last

88.87

88.71 **

88.29 *

88.05 **

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