NZD/JPY may fall 43 - 64 pips

Our pivot point stands at 94.94.

Our preference

The downside prevails as long as 94.94 is resistance.

Alternative scenario

The upside breakout of 94.94, would call for 95.29 and 95.49.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 94.74 and 94.88).

Supports and resistances

95.49 **

95.29 *

94.94 **

94.81

94.64 last

94.21

94.00 **

93.79 *

93.59 **

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