NZD/JPY may fall 47 - 68 pips

Our pivot point is at 94.44.

Our preference

The downside prevails as long as 94.44 is resistance.

Alternative scenario

The upside breakout of 94.44, would call for 94.79 and 94.99.

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 94.37 and 94.59).

Supports and resistances

94.99 **

94.79 *

94.44 **

94.31

94.15 last

93.68

93.47 **

93.27 *

93.06 **

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