NZD/JPY may fall 59 - 83 pips

Our pivot point stands at 89.63.

Our preference

Under pressure below 89.63.

Alternative scenario

Above 89.63, look for 90.04 and 90.29.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 89.36 and 89.26).

Supports and resistances

90.29 **

90.04 *

89.63 **

89.47

89.19 last

88.60

88.36 **

88.11 *

87.86 **

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