NOK/JPY may fall 699 - 999 pips

14.67 is our pivot point.

Our preference

Under pressure below 14.67.

Alternative scenario

Above 14.67, look for 14.73 and 14.76.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 14.65 and 14.64).

Supports and resistances

14.76 **

14.73 *

14.67 **

14.65

14.63 last

14.56

14.53 **

14.50 *

14.47 **

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