NZD/JPY may fall 61 - 91 pips

87.31 is our pivot point.

Our preference

Target 86.01.

Alternative scenario

Above 87.31, look for 87.81 and 88.11.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (87.09) but above its 50 period moving average (86.85).

Supports and resistances

88.11 **

87.81 *

87.31 **

87.12

86.92 last

86.31

86.01 **

85.72 *

85.42 **

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