NZD/JPY may rise 61 - 92 pips

91.46 is our pivot point.

Our preference

The upside prevails as long as 91.46 is support.

Alternative scenario

The downside breakout of 91.46 would call for 90.95 and 90.64.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 91.73 and 91.48).

Supports and resistances

93.50 **

93.20 *

92.90 **

92.59

91.98 last

91.66

91.46 **

90.95 *

90.64 **

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