NZD/JPY may fall 50 - 74 pips

Our pivot point stands at 90.82.

Our preference

Technical rebound towards 90.82 before a new drop.

Alternative scenario

The upside breakout of 90.82, would call for 91.22 and 91.45.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (90.40) but under its 50 period moving average (90.46).

Supports and resistances

91.45 **

91.22 *

90.82 **

90.66

90.46 last

89.96

89.72 **

89.49 *

89.25 **

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