NZD/JPY may rise 73 - 97 pips

Our pivot point stands at 84.08.

Our preference

Rebound towards 85.67.

Alternative scenario

The downside breakout of 84.08 would call for 83.69 and 83.46.

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 above its 20 period moving average (84.51) but below its 50 period moving average (85.92).

Supports and resistances

86.14 **

85.90 *

85.67 **

85.43

84.70 last

84.24

84.08 **

83.69 *

83.46 **

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