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Weekly forecast New Zealand Dollar / Japanese Yen technical chart

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (86.335 to 87.330). 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 (86.335)
  • Ending of entry zone (87.330)

DateJune 26, 2022 - 14:24
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 87.330, beginning of downtrend is expected.
  • We make sure when the support at 79.434 breaks.
  • If the resistance at 87.330 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 86.515 on 06/22/2022, so more losses to support(s) 84.180, 82.154 and minimum to Major Support (79.434) 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 55.

Take Profits:

  1. 84.180
  2. 82.154
  3. 79.434
  4. 78.080
  5. 76.610
  6. 75.282
Click on the level to view price action history.