NZD/JPY may fall 61 - 91 pips

Our pivot point stands at 91.69.

Our preference

The downside prevails as long as 91.69 is resistance.

Alternative scenario

Above 91.69, look for 92.20 and 92.50.

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 91.53 and 91.59). Finally, the NZD/JPY is trading below its lower Bollinger band (standing at 91.26).

Supports and resistances

92.50 **

92.20 *

91.69 **

91.49

91.19 last

90.58

90.28 **

89.98 *

89.68 **

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