NOK/JPY may rise 727 - 1127 pips

Our pivot point stands at 14.67.

Our preference

The upside prevails as long as 14.67 is support.

Alternative scenario

The downside breakout of 14.67 would call for 14.61 and 14.57.

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 above its 20 and 50 period moving average (respectively at 14.70 and 14.69). Finally, the NOK/JPY has crossed above its upper Bollinger band (14.73).

Supports and resistances

14.93 **

14.89 *

14.85 **

14.81

14.74 last

14.70

14.67 **

14.61 *

14.57 **

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