NZD/JPY may rise 82 - 113 pips

Our pivot point is at 87.96.

Our preference

Rebound towards 89.49.

Alternative scenario

The downside breakout of 87.96 would call for 87.45 and 87.15.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 88.44 and 88.81).

Supports and resistances

90.09 **

89.79 *

89.49 **

89.18

88.36 last

88.16

87.96 **

87.45 *

87.15 **

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