NOK/JPY may rise 707 - 1107 pips

Our pivot point stands at 15.03.

Our preference

The upside prevails as long as 15.03 is support.

Alternative scenario

The downside breakout of 15.03 would call for 14.98 and 14.94.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 15.07 and 15.07).

Supports and resistances

15.26 **

15.23 *

15.20 **

15.16

15.09 last

15.06

15.03 **

14.98 *

14.94 **

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