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

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMay 15, 2022 - 18:13
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 83.306, resumption of downtrend is expected.
  • We make sure when the support at 79.178 breaks.
  • If the resistance at 83.306 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 84.780 on 05/05/2022, so more losses to support(s) 79.850 and minimum to Major Support (79.178) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 37.

Supports and Resistances:

  1. 83.306
  2. 79.850
Click on the level to view price action history.