NZD/JPY may rise 62 - 92 pips

Our pivot point is at 91.32.

Our preference

The upside prevails as long as 91.32 is support.

Alternative scenario

Below 91.32, expect 90.81 and 90.51.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 91.42 and 91.36).

Supports and resistances

93.27 **

92.97 *

92.66 **

92.36

91.74 last

91.52

91.32 **

90.81 *

90.51 **

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