NZD/JPY may fall to 91.60 - 93.04

Our pivot point stands at 98.11.

Our preference

Target 91.60.

Alternative scenario

Above 98.11, look for 100.54 and 101.99.

Comment

The RSI is below its neutrality area at 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 below its 20 period moving average (97.41) but above its 50 period moving average (95.55).

Supports and resistances

101.99 **

100.54 *

98.11 **

97.15

96.02 last

93.04

91.60 **

90.16 *

88.71 **

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