NOK/JPY may rise 1134 - 1734 pips

Our pivot point stands at 13.69.

Our preference

Rebound towards 13.94.

Alternative scenario

The downside breakout of 13.69 would call for 13.59 and 13.54.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (13.77) but under its 50 period moving average (13.79).

Supports and resistances

14.05 **

13.99 *

13.94 **

13.88

13.77 last

13.72

13.69 **

13.59 *

13.54 **

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