NZD/JPY intraday: technical rebound towards 85.62 before a new drop

Our pivot point stands at 85.62.

Our preference: technical rebound towards 85.62 before a new drop.

Alternative scenario: the upside breakout of 85.62, would call for 86.19 and 86.54.

Comment: the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (85.06) but below its 50 period moving average (85.11).

Supports and resistances:

86.54 **

86.19 *

85.62 **

85.39

85.11 last

84.41

84.06 **