NZD/JPY may rise to 92.97 - 95.25

Our pivot point is at 84.81.

Our preference

Rebound towards 95.25.

Alternative scenario

The downside breakout of 84.81 would call for 81 and 78.73.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 89.30 and 92.63).

Supports and resistances

99.82 **

97.54 *

95.25 **

92.97

88.33 last

86.31

84.81 **

81.00 *

78.73 **

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