NZD/JPY ST: rebound towards 89.45
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Our pivot point stands at 85.46.
Our preference: rebound towards 89.45.
Alternative scenario: the downside breakout of 85.46 would call for 84.03 and 83.18.
Comment: the RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (86.69) but under its 50 period moving average (87.11).
Supports and resistances:
91.16 **
90.30 *
89.45 **
88.60
86.78 last
86.02
85.46 **
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