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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.

DateDecember 12, 2020 - 21:18
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 74.000, beginning of downtrend is expected.
  • We make sure when the support at 71.950 breaks.
  • If the resistance at 74.000 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 54 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 74.03 on 12/02/2020, so more losses to support(s) 73.35 and minimum to Major Support (71.95) 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 64.

Supports and Resistances:

  1. 78.45
  2. 75.70
  3. 73.35
  4. 68.65
  5. 68.05
  6. 66.90
  7. 66.15
Click on the level to view price action history.