NOK/JPY may rise 875 - 1275 pips

Our pivot point stands at 13.70.

Our preference

As long as 13.70 is support look for 13.89.

Alternative scenario

Below 13.70, expect 13.63 and 13.59.

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 above its 20 and 50 period moving average (respectively at 13.75 and 13.72).

Supports and resistances

13.97 **

13.93 *

13.89 **

13.85

13.76 last

13.72

13.70 **

13.63 *

13.59 **

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