NZD/JPY intraday: rebound towards 88.76

Our pivot point stands at 87.11.

Our preference: rebound towards 88.76.

Alternative scenario: the downside breakout of 87.11 would call for 86.51 and 86.16.

Comment: the RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 87.69 and 87.76).

Supports and resistances:

89.47 **

89.11 *

88.76 **

88.40

87.66 last

87.34

87.11 **