NOK/JPY may fall 960 - 1360 pips

Our pivot point is at 13.20.

Our preference

Target 12.97.

Alternative scenario

The upside breakout of 13.20, would call for 13.28 and 13.32.

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 price is below its 20 period moving average (13.18) but above its 50 period moving average (13.06).

Supports and resistances

13.32 **

13.28 *

13.20 **

13.18

13.11 last

13.01

12.97 **

12.93 *

12.88 **

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