NZD/JPY may rise 52 - 77 pips
Preference
Our next up target stands at 81.89.
Alternative scenario
The downside breakout of 80.68 would call for 80.26 and 80.02.
Comment
The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 80.81 and 80.80).
Preference
Our next up target stands at 81.89.
Alternative scenario
The downside breakout of 80.68 would call for 80.26 and 80.02.
Comment
The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 80.81 and 80.80).