NZD/JPY may rise 56 - 81 pips

Our pivot point is at 85.92.

Our preference

The upside prevails as long as 85.92 is support.

Alternative scenario

The downside breakout of 85.92 would call for 85.50 and 85.25.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 85.92 and 85.96).

Supports and resistances

87.66 **

87.41 *

87.16 **

86.91

86.35 last

86.09

85.92 **

85.50 *

85.25 **

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