NZD/JPY may rise 62 - 92 pips

Our pivot point stands at 89.32.

Our preference

As long as 89.32 is support look for 90.65.

Alternative scenario

The downside breakout of 89.32 would call for 88.80 and 88.50.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (89.74) but above its 50 period moving average (89.37).

Supports and resistances

91.27 **

90.96 *

90.65 **

90.35

89.73 last

89.52

89.32 **

88.80 *

88.50 **

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