NZD/JPY may fall 59 - 89 pips

Our pivot point is at 91.07.

Our preference

Technical rebound towards 91.07 before a new drop.

Alternative scenario

Above 91.07, look for 91.57 and 91.86.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (90.63) but under its 50 period moving average (90.65).

Supports and resistances

91.86 **

91.57 *

91.07 **

90.88

90.65 last

90.06

89.76 **

89.47 *

89.18 **

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