NZD/JPY may fall 60 - 90 pips

Our pivot point stands at 91.28.

Our preference

Under pressure below 91.28.

Alternative scenario

The upside breakout of 91.28, would call for 91.77 and 92.06.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 90.99 and 90.97).

Supports and resistances

92.06 **

91.77 *

91.28 **

91.08

90.85 last

90.25

89.95 **

89.66 *

89.37 **

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