NZD/JPY intraday: target 97.91
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Our pivot point stands at 98.62.
Our preference: target 97.91.
Alternative scenario: the upside breakout of 98.62, would call for 98.87 and 99.02.
Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (98.46) but above its 50 period moving average (98.32).
Supports and resistances:
99.02 **
98.87 *
98.62 **
98.52
98.39 last
98.06
97.91 **
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