NZD/JPY may rise 47 - 69 pips

Our pivot point stands at 96.22.

Our preference

As long as 96.22 is support look for 97.23.

Alternative scenario

Below 96.22, expect 95.85 and 95.63.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (96.55) but above its 50 period moving average (96.16).

Supports and resistances

97.68 **

97.45 *

97.23 **

97.01

96.54 last

96.37

96.22 **

95.85 *

95.63 **

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