NZD/JPY may rise 61 - 91 pips

Our pivot point stands at 87.66.

Our preference

As long as 87.66 is support look for 88.99.

Alternative scenario

Below 87.66, expect 87.15 and 86.85.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (88.16) but above its 50 period moving average (87.96).

Supports and resistances

89.60 **

89.29 *

88.99 **

88.69

88.08 last

87.86

87.66 **

87.15 *

86.85 **

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