NZD/JPY may fall 61 - 91 pips

Our pivot point stands at 91.31.

Our preference

Target 90.00.

Alternative scenario

The upside breakout of 91.31, would call for 91.81 and 92.10.

Comment

The RSI is below its neutrality area at 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 (91.06) but above its 50 period moving average (90.87).

Supports and resistances

92.10 **

91.81 *

91.31 **

91.12

90.91 last

90.30

90.00 **

89.71 *

89.41 **

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