NZD/JPY may fall 70 - 95 pips

Our pivot point stands at 91.51.

Our preference

Target 89.91.

Alternative scenario

Above 91.51, look for 91.93 and 92.18.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (91.18) but above its 50 period moving average (90.79). Finally, the NZD/JPY is trading below its lower Bollinger band (standing at 90.90).

Supports and resistances

92.18 **

91.93 *

91.51 **

91.34

90.86 last

90.16

89.91 **

89.66 *

89.41 **

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