NZD/JPY may rise 49 - 71 pips

Our pivot point is at 95.24.

Our preference

Rebound towards 96.29.

Alternative scenario

Below 95.24, expect 94.87 and 94.65.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (95.58) but under its 50 period moving average (96.15).

Supports and resistances

96.73 **

96.51 *

96.29 **

96.07

95.58 last

95.38

95.24 **

94.87 *

94.65 **

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