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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 21, 2020 - 19:04
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 66.900 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 71.20 on 02/20/2020, so more losses to support(s) 61.95, 58.55, 57.35 and more depths 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 34.

Supports and Resistances:

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