NOK/JPY may rise 725 - 1125 pips

Our pivot point stands at 14.76.

Our preference

The upside prevails as long as 14.76 is support.

Alternative scenario

Below 14.76, expect 14.70 and 14.67.

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 above its 20 and 50 period moving average (respectively at 14.72 and 14.69).

Supports and resistances

14.98 **

14.95 *

14.92 **

14.88

14.81 last

14.78

14.76 **

14.70 *

14.67 **

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