NOK/JPY may rise 650 - 1050 pips

14.77 is our pivot point.

Our preference

Rebound.

Alternative scenario

Below 14.77, expect 14.72 and 14.69.

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 stands above its 20 period moving average (14.83) but below its 50 period moving average (14.88).

Supports and resistances

15.01 **

14.98 *

14.95 **

14.91

14.85 last

14.79

14.77 **

14.72 *

14.69 **

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