NZD/JPY may fall 47 - 69 pips

Our pivot point stands at 96.84.

Our preference

The downside prevails as long as 96.84 is resistance.

Alternative scenario

Above 96.84, look for 97.21 and 97.43.

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 96.56 and 96.58).

Supports and resistances

97.43 **

97.21 *

96.84 **

96.69

96.54 last

96.07

95.85 **

95.62 *

95.40 **

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