NZD/JPY may rise 43 - 63 pips

Our pivot point is at 96.36.

Our preference

The upside prevails as long as 96.36 is support.

Alternative scenario

The downside breakout of 96.36 would call for 96.02 and 95.81.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 96.48 and 96.22). Finally, the NZD/JPY is trading above its upper Bollinger band (standing at 96.65).

Supports and resistances

97.70 **

97.49 *

97.29 **

97.09

96.66 last

96.49

96.36 **

96.02 *

95.81 **

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