NZD/JPY may rise 66 - 98 pips

Our pivot point stands at 88.93.

Our preference

The upside prevails as long as 88.93 is support.

Alternative scenario

Below 88.93, expect 88.38 and 88.06.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 89.40 and 89.46).

Supports and resistances

91.19 **

90.86 *

90.54 **

90.22

89.56 last

89.14

88.93 **

88.38 *

88.06 **

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