NZD/JPY may fall 64 - 89 pips

Our pivot point stands at 86.26.

Our preference

Target 84.80.

Alternative scenario

Above 86.26, look for 86.68 and 86.93.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (86.36) but above its 50 period moving average (85.59). Finally, the NZD/JPY is trading below its lower Bollinger band (standing at 85.73).

Supports and resistances

86.93 **

86.68 *

86.26 **

86.10

85.69 last

85.05

84.80 **

84.55 *

84.31 **

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