NZD/JPY may rise 63 - 94 pips

Our pivot point stands at 88.84.

Our preference

As long as 88.84 is support look for 90.19.

Alternative scenario

The downside breakout of 88.84 would call for 88.33 and 88.02.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 89.13 and 88.69).

Supports and resistances

90.80 **

90.49 *

90.19 **

89.88

89.25 last

89.04

88.84 **

88.33 *

88.02 **

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