NZD/JPY may fall 62 - 92 pips

Our pivot point stands at 92.02.

Our preference

The downside prevails as long as 92.02 is resistance.

Alternative scenario

The upside breakout of 92.02, would call for 92.53 and 92.83.

Comment

The RSI is below its neutrality area at 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 91.79 and 91.68).

Supports and resistances

92.83 **

92.53 *

92.02 **

91.82

91.55 last

90.93

90.63 **

90.33 *

90.03 **

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