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

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Trade Setup
#NZDJPY
Total Profit: -18 pip
Closed trade(s): 0 pip Profit
Open trade(s): -18 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 75.72 based on 'Valley' at 2019.04.12.

Open Profit:
Profit for one trade is 75.70(current price) - 75.72(open price) = -2 pip
9 trade(s) still open, therefore total profit for open trade(s) is -2 x 9 = -18 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
DateFebruary 13, 2021 - 17:00
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 76.100, beginning of downtrend is expected.
  • We make sure when the support at 73.350 breaks.
  • If the resistance at 76.100 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 72.78 on 2020-11-12 and the peak at 75.57 on 2021-01-08, 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 76.10 on 02/08/2021, so more losses to support(s) 75.00, 74.00 and minimum to Major Support (73.35) 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 61.

Supports and Resistances:

  1. 78.45
  2. 73.35
  3. 72.70
  4. 71.95
  5. 70.45
  6. 68.65
  7. 66.15
Click on the level to view price action history.
Symbol Released Current Forecast
New Zealand Dollar / Japanese Yen (NZDJPY) Sun, 14 Apr 2024
New Zealand Dollar / Japanese Yen (NZDJPY) Sun, 7 Apr 2024
New Zealand Dollar / Japanese Yen (NZDJPY) Sun, 31 Mar 2024
New Zealand Dollar / Japanese Yen (NZDJPY) Sun, 24 Mar 2024
New Zealand Dollar / Japanese Yen (NZDJPY) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on NZDJPY.