NOK/JPY may fall 1167 - 1567 pips

Our pivot point stands at 15.09.

Our preference

The downside prevails as long as 15.09 is resistance.

Alternative scenario

Above 15.09, look for 15.16 and 15.20.

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 15.07 and 15.05). Finally, the NOK/JPY is trading below its lower Bollinger band (standing at 15.02).

Supports and resistances

15.20 **

15.16 *

15.09 **

15.06

15.02 last

14.90

14.86 **

14.82 *

14.77 **

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