NZD/JPY may rise 65 - 98 pips

Our pivot point stands at 89.34.

Our preference

As long as 89.34 is support look for 90.76.

Alternative scenario

The downside breakout of 89.34 would call for 88.79 and 88.47.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 89.77 and 89.54).

Supports and resistances

91.41 **

91.08 *

90.76 **

90.43

89.78 last

89.55

89.34 **

88.79 *

88.47 **

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