NZD/JPY may fall 45 - 66 pips

Our pivot point stands at 95.06.

Our preference

The downside prevails as long as 95.06 is resistance.

Alternative scenario

The upside breakout of 95.06, would call for 95.41 and 95.62.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 94.91 and 95.01).

Supports and resistances

95.62 **

95.41 *

95.06 **

94.93

94.77 last

94.32

94.11 **

93.90 *

93.70 **

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