NZD/JPY may fall 57 - 83 pips

Our pivot point is at 88.96.

Our preference

Eye 87.71.

Alternative scenario

The upside breakout of 88.96, would call for 89.39 and 89.64.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is below its 20 period moving average (88.83) but above its 50 period moving average (88.53).

Supports and resistances

89.64 **

89.39 *

88.96 **

88.79

88.54 last

87.97

87.71 **

87.45 *

87.20 **

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