NZD/JPY may fall 54 - 80 pips

Our pivot point stands at 89.01.

Our preference

Target 87.84.

Alternative scenario

Above 89.01, look for 89.44 and 89.69.

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 (88.87) but above its 50 period moving average (88.49).

Supports and resistances

89.69 **

89.44 *

89.01 **

88.84

88.64 last

88.10

87.84 **

87.59 *

87.33 **

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