NZD/JPY may fall 58 - 82 pips

Our pivot point stands at 85.37.

Our preference

The downside prevails as long as 85.37 is resistance.

Alternative scenario

Above 85.37, look for 85.76 and 86.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 85.64 and 87.03).

Supports and resistances

86.00 **

85.76 *

85.37 **

85.21

84.61 last

84.03

83.79 **

83.56 *

83.33 **

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