NZD/JPY may rise 46 - 68 pips

96.96 is our pivot point.

Our preference

The upside prevails as long as 96.96 is support.

Alternative scenario

The downside breakout of 96.96 would call for 96.59 and 96.37.

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 97.17 and 97.04).

Supports and resistances

98.39 **

98.17 *

97.95 **

97.73

97.27 last

97.10

96.96 **

96.59 *

96.37 **

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