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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.

DateNovember 7, 2020 - 20:55
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 68.650, beginning of uptrend is expected.
  • We make sure when the resistance at 70.450 breaks.
  • If the support at 68.650 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 54 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 68.85 on 10/30/2020, so more gains maximum to Major Resistance (70.45) 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 52.

Supports and Resistances:

  1. 78.45
  2. 75.70
  3. 73.55
  4. 69.55
  5. 68.65
  6. 68.05
  7. 66.90
  8. 66.15
Click on the level to view price action history.