NZD/JPY may rise 63 - 94 pips

Our pivot point stands at 88.63.

Our preference

As long as 88.63 is support look for 90.02.

Alternative scenario

The downside breakout of 88.63 would call for 88.12 and 87.81.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (89.12) but above its 50 period moving average (88.91).

Supports and resistances

90.62 **

90.32 *

90.02 **

89.71

89.08 last

88.83

88.63 **

88.12 *

87.81 **

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