NZD/JPY may rise 45 - 67 pips

Our pivot point is at 96.86.

Our preference

As long as 96.86 is support look for 97.86.

Alternative scenario

The downside breakout of 96.86 would call for 96.49 and 96.27.

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 above its 20 and 50 period moving average (respectively at 97.12 and 96.99).

Supports and resistances

98.30 **

98.08 *

97.86 **

97.64

97.19 last

97.00

96.86 **

96.49 *

96.27 **

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