NZD/JPY may fall 51 - 76 pips

Our pivot point is at 86.51.

Our preference

Under pressure below 86.51.

Alternative scenario

The upside breakout of 86.51, would call for 86.93 and 87.18.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. 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 86.11 and 86.14).

Supports and resistances

87.18 **

86.93 *

86.51 **

86.35

85.93 last

85.42

85.17 **

84.92 *

84.68 **

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