NZD/JPY may fall 72 - 102 pips

Our pivot point stands at 89.84.

Our preference

As long as 89.84 is resistance look for 88.34.

Alternative scenario

The upside breakout of 89.84, would call for 90.36 and 90.66.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price stands above its 20 period moving average (89.36) but below its 50 period moving average (89.36).

Supports and resistances

90.66 **

90.36 *

89.84 **

89.64

89.36 last

88.64

88.34 **

88.03 *

87.73 **

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