NZD/JPY intraday: look for a drop towards 88.61 before a bounce
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Our pivot point is at 88.61.
Our preference: look for a drop towards 88.61 before a bounce.
Alternative scenario: below 88.61, expect 88.40 and 88.27.
Comment: the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is above its 20 and 50 period moving average (respectively at 88.77 and 88.74).
Supports and resistances:
89.44 **
89.31 *
89.19 **
89.06
88.81 last
88.69
88.61 **
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