NZD/JPY may rise 68 - 100 pips

Our pivot point stands at 89.65.

Our preference

The upside prevails as long as 89.65 is support.

Alternative scenario

The downside breakout of 89.65 would call for 89.11 and 88.79.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 90.01 and 89.76).

Supports and resistances

91.76 **

91.44 *

91.11 **

90.79

90.11 last

89.86

89.65 **

89.11 *

88.79 **

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