NZD/JPY may fall 51 - 71 pips

96.12 is our pivot point.

Our preference

The downside prevails as long as 96.12 is resistance.

Alternative scenario

Above 96.12, look for 96.46 and 96.66.

Comment

The RSI is below 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 95.97 and 96.23).

Supports and resistances

96.66 **

96.46 *

96.12 **

95.99

95.85 last

95.34

95.14 **

94.94 *

94.74 **

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