NZD/JPY may fall 62 - 91 pips

Our pivot point is at 90.97.

Our preference

Under pressure below 90.97.

Alternative scenario

The upside breakout of 90.97, would call for 91.46 and 91.76.

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 stands below its 20 and 50 period moving average (respectively at 90.69 and 90.51).

Supports and resistances

91.76 **

91.46 *

90.97 **

90.77

90.50 last

89.88

89.59 **

89.29 *

89.00 **

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