NZD/JPY may rise 70 - 100 pips

87.98 is our pivot point.

Our preference

Rebound towards 89.44.

Alternative scenario

Below 87.98, expect 87.47 and 87.17.

Comment

The RSI is below 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 88.67 and 88.95).

Supports and resistances

90.04 **

89.74 *

89.44 **

89.14

88.44 last

88.18

87.98 **

87.47 *

87.17 **

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