NOK/JPY may fall 741 - 1041 pips

Our pivot point stands at 14.75.

Our preference

The downside prevails as long as 14.75 is resistance.

Alternative scenario

Above 14.75, look for 14.81 and 14.84.

Comment

The RSI is below 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 14.74 and 14.74).

Supports and resistances

14.84 **

14.81 *

14.75 **

14.73

14.70 last

14.63

14.60 **

14.57 *

14.53 **

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