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Weekly forecast New Zealand Dollar / Japanese Yen technical chart
Symbol NZDJPY

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMarch 7, 2020 - 21:42
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • While the price is below the resistance 68.800, continuation of downtrend is expected.
  • We make sure when the support at 66.300 breaks.
  • If the resistance at 68.800 is broken, the short-term forecast -continuation of downtrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 71.20 on 02/20/2020, so more losses minimum to Major Support (66.30) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 31.

Supports and Resistances:

  1. 78.45
  2. 75.70
  3. 73.55
  4. 72.55
  5. 71.50
  6. 68.80
  7. 64.55
  8. 63.55
  9. 61.95
  10. 58.55
  11. 57.35
  12. 53.80
  13. 49.40
Click on the level to view price action history.