NZD/JPY may rise 65 - 94 pips

Our pivot point stands at 90.54.

Our preference

Look for a drop towards 90.54 before a bounce.

Alternative scenario

The downside breakout of 90.54 would call for 90.04 and 89.75.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is above its 20 and 50 period moving average (respectively at 90.95 and 90.95).

Supports and resistances

92.52 **

92.22 *

91.92 **

91.63

90.98 last

90.73

90.54 **

90.04 *

89.75 **

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