NZD/JPY may fall 40 - 61 pips

Our pivot point stands at 96.26.

Our preference

As long as 96.26 is resistance look for 95.30.

Alternative scenario

The upside breakout of 96.26, would call for 96.60 and 96.80.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price is trading above its 20 period moving average (95.90) but under its 50 period moving average (95.99).

Supports and resistances

96.80 **

96.60 *

96.26 **

96.12

95.91 last

95.51

95.30 **

95.10 *

94.90 **

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