NZD/JPY may fall 49 - 73 pips

87.62 is our pivot point.

Our preference

The downside prevails as long as 87.62 is resistance.

Alternative scenario

Above 87.62, look for 88.02 and 88.26.

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 87.71 and 88.32).

Supports and resistances

88.26 **

88.02 *

87.62 **

87.46

87.30 last

86.81

86.57 **

86.33 *

86.09 **

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