NOK/JPY may fall 628 - 1028 pips

Our pivot point is at 15.02.

Our preference

Under pressure below 15.02.

Alternative scenario

The upside breakout of 15.02, would call for 15.07 and 15.10.

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 stands below its 20 and 50 period moving average (respectively at 14.98 and 14.97).

Supports and resistances

15.10 **

15.07 *

15.02 **

14.99

14.96 last

14.90

14.86 **

14.83 *

14.80 **

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