NZD/JPY may rise 63 - 88 pips

Our pivot point is at 88.02.

Our preference

As long as 88.02 is support look for 89.27.

Alternative scenario

The downside breakout of 88.02 would call for 87.59 and 87.34.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (88.54) but above its 50 period moving average (87.75).

Supports and resistances

89.78 **

89.53 *

89.27 **

89.02

88.39 last

88.19

88.02 **

87.59 *

87.34 **

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