NOK/JPY may fall 821 - 1221 pips

Our pivot point is at 14.83.

Our preference

Under pressure below 14.83.

Alternative scenario

The upside breakout of 14.83, would call for 14.89 and 14.93.

Comment

The RSI is below 50. The MACD is positive and below its signal line. 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 14.78 and 14.78).

Supports and resistances

14.93 **

14.89 *

14.83 **

14.81

14.74 last

14.66

14.62 **

14.59 *

14.55 **

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