NZD/JPY may rise 72 - 105 pips

Our pivot point stands at 89.50.

Our preference

As long as 89.50 is support look for 91.03.

Alternative scenario

The downside breakout of 89.50 would call for 88.95 and 88.63.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 89.92 and 89.79).

Supports and resistances

91.68 **

91.35 *

91.03 **

90.70

89.98 last

89.71

89.50 **

88.95 *

88.63 **

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