NZD/JPY may rise 62 - 92 pips

Our pivot point stands at 90.83.

Our preference

As long as 90.83 is support look for 92.23.

Alternative scenario

The downside breakout of 90.83 would call for 90.33 and 90.02.

Comment

The RSI is above 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 91.24 and 91).

Supports and resistances

92.83 **

92.53 *

92.23 **

91.93

91.31 last

91.03

90.83 **

90.33 *

90.02 **

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