NZD/JPY may rise 60 - 90 pips

Our pivot point is at 90.76.

Our preference

The upside prevails as long as 90.76 is support.

Alternative scenario

Below 90.76, expect 90.26 and 89.97.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 90.90 and 90.72).

Supports and resistances

92.68 **

92.38 *

92.09 **

91.79

91.19 last

90.96

90.76 **

90.26 *

89.97 **

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