NZD/JPY may fall 46 - 68 pips

Our pivot point is at 96.92.

Our preference

As long as 96.92 is resistance look for 95.89.

Alternative scenario

Above 96.92, look for 97.29 and 97.51.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price stands above its 20 period moving average (96.56) but below its 50 period moving average (96.58).

Supports and resistances

97.51 **

97.29 *

96.92 **

96.77

96.57 last

96.11

95.89 **

95.67 *

95.45 **

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