NZD/JPY may rise 69 - 101 pips

Our pivot point stands at 89.13.

Our preference

Our next up target stands at 90.73.

Alternative scenario

The downside breakout of 89.13 would call for 88.58 and 88.26.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 89.65 and 89.71).

Supports and resistances

91.38 **

91.05 *

90.73 **

90.41

89.72 last

89.34

89.13 **

88.58 *

88.26 **

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