NZD/JPY may fall to 82.18 - 84.28

Our pivot point stands at 92.18.

Our preference

The downside prevails as long as 92.18 is resistance.

Alternative scenario

The upside breakout of 92.18, would call for 95.74 and 97.86.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 91.49 and 94.71).

Supports and resistances

97.86 **

95.74 *

92.18 **

90.79

89.22 last

84.28

82.18 **

80.09 *

77.99 **

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