NZD/JPY may fall 41 - 61 pips

Our pivot point stands at 96.28.

Our preference

Technical rebound towards 96.28 before a new drop.

Alternative scenario

The upside breakout of 96.28, would call for 96.62 and 96.82.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price stands above its 20 period moving average (95.87) but below its 50 period moving average (96.02).

Supports and resistances

96.82 **

96.62 *

96.28 **

96.14

95.98 last

95.57

95.37 **

95.17 *

94.97 **

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