NZD/JPY may rise 43 - 64 pips

Our pivot point stands at 96.16.

Our preference

Rebound towards 97.09.

Alternative scenario

The downside breakout of 96.16 would call for 95.82 and 95.61.

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 is trading under both its 20 and 50 period moving average (respectively at 96.48 and 96.53).

Supports and resistances

97.49 **

97.29 *

97.09 **

96.88

96.45 last

96.29

96.16 **

95.82 *

95.61 **

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