NZD/JPY may rise 61 - 92 pips

Our pivot point stands at 88.92.

Our preference

Our next up target stands at 90.30.

Alternative scenario

The downside breakout of 88.92 would call for 88.41 and 88.10.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 89.30 and 89.36).

Supports and resistances

90.91 **

90.61 *

90.30 **

89.99

89.38 last

89.12

88.92 **

88.41 *

88.10 **

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