NOK/JPY may rise 1130 - 1730 pips

Our pivot point stands at 13.69.

Our preference

Rebound towards 13.96.

Alternative scenario

The downside breakout of 13.69 would call for 13.60 and 13.55.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 13.80 and 13.83).

Supports and resistances

14.07 **

14.01 *

13.96 **

13.90

13.79 last

13.73

13.69 **

13.60 *

13.55 **

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