NZD/JPY may rise 61 - 91 pips

90.71 is our pivot point.

Our preference

As long as 90.71 is support look for 92.04.

Alternative scenario

The downside breakout of 90.71 would call for 90.22 and 89.92.

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 trading above both its 20 and 50 period moving average (respectively at 91 and 90.78).

Supports and resistances

92.63 **

92.33 *

92.04 **

91.74

91.13 last

90.91

90.71 **

90.22 *

89.92 **

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