NZD/JPY may fall 65 - 90 pips

87.87 is our pivot point.

Our preference

The downside prevails as long as 87.87 is resistance.

Alternative scenario

The upside breakout of 87.87, would call for 88.30 and 88.55.

Comment

The RSI is below its neutrality area at 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 87.70 and 88.08).

Supports and resistances

88.55 **

88.30 *

87.87 **

87.70

87.52 last

86.87

86.62 **

86.37 *

86.11 **

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