NOK/JPY may fall 1176 - 1776 pips

Our pivot point is at 13.95.

Our preference

Under pressure below 13.95.

Alternative scenario

The upside breakout of 13.95, would call for 14.05 and 14.10.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 13.87 and 13.86).

Supports and resistances

14.10 **

14.05 *

13.95 **

13.92

13.86 last

13.74

13.68 **

13.63 *

13.57 **

Number of asterisks represents the strength of support and resistance levels.