NZD/JPY may fall 54 - 78 pips

Our pivot point is at 90.91.

Our preference

The downside prevails as long as 90.91 is resistance.

Alternative scenario

The upside breakout of 90.91, would call for 91.31 and 91.55.

Comment

The RSI is below 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 90.76 and 90.67).

Supports and resistances

91.55 **

91.31 *

90.91 **

90.75

90.57 last

90.03

89.79 **

89.56 *

89.32 **

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