NZD/JPY may rise 67 - 97 pips

Our pivot point stands at 87.48.

Our preference

As long as 87.48 is support look for 89.21.

Alternative scenario

Below 87.48, expect 86.97 and 86.67.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 88.16 and 88).

Supports and resistances

89.82 **

89.52 *

89.21 **

88.91

88.24 last

87.67

87.48 **

86.97 *

86.67 **

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