NZD/JPY ST: target 88.14
Our pivot point stands at 93.11.
Our preference: target 88.14.
Alternative scenario: above 93.11, look for 94.88 and 95.93.
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 pair is trading under its 20 period moving average (91.94) but above its 50 period moving average (90.82).
Supports and resistances:
95.93 **
94.88 *
93.11 **
92.42
91.38 last
89.19
88.14 **
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