NZD/JPY may rise 47 - 69 pips

Our pivot point stands at 95.85.

Our preference

The upside prevails as long as 95.85 is support.

Alternative scenario

The downside breakout of 95.85 would call for 95.48 and 95.26.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 95.97 and 95.87).

Supports and resistances

97.29 **

97.07 *

96.85 **

96.63

96.16 last

96.00

95.85 **

95.48 *

95.26 **

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