NOK/JPY may fall 1007 - 1507 pips

Our pivot point is at 13.97.

Our preference

The downside prevails as long as 13.97 is resistance.

Alternative scenario

Above 13.97, look for 14.05 and 14.10.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 13.90 and 13.90).

Supports and resistances

14.10 **

14.05 *

13.97 **

13.93

13.90 last

13.80

13.75 **

13.70 *

13.65 **

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