NZD/JPY may fall 63 - 94 pips

Our pivot point stands at 89.67.

Our preference

Target 88.10.

Alternative scenario

Above 89.67, look for 90.19 and 90.49.

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 pair is trading under its 20 period moving average (89.18) but above its 50 period moving average (88.73).

Supports and resistances

90.49 **

90.19 *

89.67 **

89.47

89.04 last

88.41

88.10 **

87.80 *

87.49 **

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