NZD/JPY may rise 50 - 72 pips

96.32 is our pivot point.

Our preference

As long as 96.32 is support look for 97.35.

Alternative scenario

The downside breakout of 96.32 would call for 95.95 and 95.73.

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 trading above both its 20 and 50 period moving average (respectively at 96.56 and 96.28).

Supports and resistances

97.79 **

97.57 *

97.35 **

97.13

96.63 last

96.47

96.32 **

95.95 *

95.73 **

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