NZD/JPY may rise 44 - 64 pips

Our pivot point stands at 96.11.

Our preference

Rebound towards 97.04.

Alternative scenario

The downside breakout of 96.11 would call for 95.77 and 95.57.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (96.40) but under its 50 period moving average (96.45).

Supports and resistances

97.44 **

97.24 *

97.04 **

96.84

96.40 last

96.25

96.11 **

95.77 *

95.57 **

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