NZD/JPY may fall 66 - 98 pips

Our pivot point is at 90.66.

Our preference

Target 89.14.

Alternative scenario

Above 90.66, look for 91.20 and 91.52.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (90.18) but above its 50 period moving average (90.09).

Supports and resistances

91.52 **

91.20 *

90.66 **

90.45

90.12 last

89.46

89.14 **

88.82 *

88.49 **

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