NZD/JPY may fall 64 - 89 pips

Our pivot point stands at 88.61.

Our preference

Target 87.13.

Alternative scenario

Above 88.61, look for 89.04 and 89.29.

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 (88.46) but above its 50 period moving average (87.83).

Supports and resistances

89.29 **

89.04 *

88.61 **

88.44

88.02 last

87.38

87.13 **

86.87 *

86.62 **

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