NZD/JPY may fall 34 - 49 pips

Our pivot point is at 98.67.

Our preference

The downside prevails as long as 98.67 is resistance.

Alternative scenario

The upside breakout of 98.67, would call for 98.93 and 99.08.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 98.61 and 98.67).

Supports and resistances

99.08 **

98.93 *

98.67 **

98.58

98.47 last

98.13

97.98 **

97.83 *

97.68 **

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