NZD/JPY may rise 45 - 66 pips

Our pivot point is at 96.81.

Our preference

The upside prevails as long as 96.81 is support.

Alternative scenario

The downside breakout of 96.81 would call for 96.45 and 96.24.

Comment

The RSI is above 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 96.93 and 96.85). Finally, the NZD/JPY has crossed above its upper Bollinger band (97.10).

Supports and resistances

98.19 **

97.97 *

97.76 **

97.55

97.10 last

96.95

96.81 **

96.45 *

96.24 **

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