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

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (66.90 to 66.15). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (66.90)
    • Support on 08/26/2019
    • Support on 08/28/2019
    • Support on 08/29/2019
    • Support on 09/03/2019
    • Support on 09/04/2019
    • Support on 10/02/2019
    • Support on 02/28/2020
    • Support on 03/04/2020
    • Resistance on 05/26/2020
    • Resistance on 05/27/2020
    • Resistance on 05/28/2020
    • Resistance on 05/29/2020
  • Ending of entry zone (66.15)
    • Resistance on 03/09/2020
    • Resistance on 03/10/2020
    • Resistance on 03/11/2020
    • Resistance on 03/13/2020
    • Resistance on 03/25/2020
    • Resistance on 04/10/2020
    • Resistance on 04/13/2020
    • Resistance on 04/30/2020
    • Resistance on 05/20/2020
    • Resistance on 05/21/2020

DateJuly 4, 2020 - 22:11
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 66.150, resumption of uptrend is expected.
  • We make sure when the resistance at 71.500 breaks.
  • If the support at 66.150 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 68.07 on 06/22/2020, so more gains maximum to Major Resistance (71.50) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 62.

Take Profits:

  1. 68.05
  2. 68.80
  3. 69.95
  4. 71.50
  5. 73.55
  6. 75.70
  7. 78.45
Click on the level to view price action history.