NZD/JPY may rise 56 - 82 pips

Our pivot point stands at 87.98.

Our preference

The upside prevails as long as 87.98 is support.

Alternative scenario

The downside breakout of 87.98 would call for 87.55 and 87.29.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 88.12 and 87.89).

Supports and resistances

89.69 **

89.43 *

89.18 **

88.92

88.36 last

88.15

87.98 **

87.55 *

87.29 **

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