NZD/JPY may rise 43 - 61 pips

Our pivot point stands at 97.34.

Our preference

Rebound towards 98.21.

Alternative scenario

The downside breakout of 97.34 would call for 97.04 and 96.86.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 97.66 and 97.76).

Supports and resistances

98.57 **

98.39 *

98.21 **

98.03

97.60 last

97.46

97.34 **

97.04 *

96.86 **

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