NOK/JPY may fall 762 - 1062 pips

14.78 is our pivot point.

Our preference

The downside prevails as long as 14.78 is resistance.

Alternative scenario

The upside breakout of 14.78, would call for 14.84 and 14.88.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands above its 20 period moving average (14.72) but below its 50 period moving average (14.72).

Supports and resistances

14.88 **

14.84 *

14.78 **

14.76

14.72 last

14.64

14.61 **

14.57 *

14.53 **

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