NZD/JPY may rise to 94.78 - 97.02

Our pivot point stands at 86.70.

Our preference

Rebound towards 97.02.

Alternative scenario

Below 86.70, expect 82.97 and 80.75.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (89.15) but under its 50 period moving average (93.75).

Supports and resistances

101.49 **

99.25 *

97.02 **

94.78

90.17 last

88.16

86.70 **

82.97 *

80.75 **

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