NZD/JPY may rise 66 - 96 pips

Our pivot point is at 87.87.

Our preference

Rebound towards 89.25.

Alternative scenario

The downside breakout of 87.87 would call for 87.36 and 87.06.

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 88.41 and 88.68).

Supports and resistances

89.85 **

89.55 *

89.25 **

88.95

88.29 last

88.06

87.87 **

87.36 *

87.06 **

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