NZD/JPY may fall 47 - 69 pips

96.53 is our pivot point.

Our preference

The downside prevails as long as 96.53 is resistance.

Alternative scenario

Above 96.53, look for 96.90 and 97.12.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 96.39 and 96.48).

Supports and resistances

97.12 **

96.90 *

96.53 **

96.38

96.17 last

95.70

95.48 **

95.26 *

95.04 **

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