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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 Sell Zone (71.65 to 71.95). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (71.65)
    • Resistance on 12/31/2012
    • Support on 06/24/2016
    • Support on 07/06/2016
    • Support on 07/07/2016
    • Support on 01/03/2019
    • Support on 05/13/2019
    • Support on 05/14/2019
    • Support on 05/15/2019
    • Support on 05/16/2019
    • Support on 05/17/2019
    • Support on 05/21/2019
    • Resistance on 05/23/2019
    • Resistance on 05/24/2019
    • Resistance on 05/27/2019
    • Resistance on 05/28/2019
    • Resistance on 05/29/2019
    • Resistance on 05/30/2019
    • Resistance on 06/11/2019
    • Support on 07/05/2019
    • Support on 07/10/2019
    • Support on 07/30/2019
    • Resistance on 08/01/2019
    • Resistance on 12/11/2019
    • Support on 01/06/2020
    • Support on 01/08/2020
    • Resistance on 06/05/2020
    • Resistance on 06/08/2020
    • Resistance on 07/22/2020
    • Peak on 07/23/2020
    • Resistance on 07/23/2020
    • Resistance on 08/31/2020
    • Resistance on 09/01/2020
  • Ending of entry zone (71.95)
    • Support on 08/24/2015
    • Support on 06/24/2016
    • Support on 06/29/2016
    • Support on 07/06/2016
    • Support on 07/07/2016
    • Support on 01/03/2019
    • Support on 01/04/2019
    • Support on 05/08/2019
    • Support on 05/09/2019
    • Resistance on 05/22/2019
    • Resistance on 06/05/2019
    • Resistance on 06/06/2019
    • Resistance on 06/07/2019
    • Support on 07/02/2019
    • Support on 07/03/2019
    • Support on 07/04/2019
    • Support on 07/11/2019
    • Support on 07/15/2019
    • Support on 07/26/2019
    • Support on 07/29/2019
    • Support on 01/03/2020
    • Support on 01/07/2020
    • Support on 01/08/2020
    • Support on 01/23/2020
    • Peak on 09/02/2020
    • Resistance on 09/02/2020
    • Resistance on 09/03/2020

DateSeptember 5, 2020 - 22:45
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 71.950, beginning of downtrend is expected.
  • We make sure when the support at 68.050 breaks.
  • If the resistance at 71.950 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 71.655 on 2020-06-08 and the peak at 71.97 on 2020-09-02, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 71.95 on 09/02/2020, so more losses to support(s) 70.60, 69.15 and minimum to Major Support (68.05) 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. 70.60
  2. 69.15
  3. 68.05
  4. 66.90
  5. 66.15
Click on the level to view price action history.