NZD/JPY may rise to 99.56 - 100.97

94.61 is our pivot point.

Our preference

The upside prevails as long as 94.61 is support.

Alternative scenario

Below 94.61, expect 92.25 and 90.84.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 94.29 and 92.58).

Supports and resistances

103.79 **

102.38 *

100.97 **

99.56

96.65 last

95.54

94.61 **

92.25 *

90.84 **

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