NZD/JPY may rise 64 - 94 pips

Our pivot point is at 90.05.

Our preference

Rebound.

Alternative scenario

Below 90.05, expect 89.55 and 89.26.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (90.39) but under its 50 period moving average (90.58).

Supports and resistances

92.01 **

91.71 *

91.42 **

91.12

90.48 last

90.24

90.05 **

89.55 *

89.26 **

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