Short notes for myself regarding NZDJPY On daily charts long term trend is DOWN obviously Closest support level 68.8 I suppose it will be break down in a week or so. Next strong support level 67.0 This long term down trend suppose to continue till January, 2021
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Chart timeframe used: Monthly and weekly Indicators used: ADX Indicator, Momentum Indicator, Fibo levels As shown in the charts attached with this technical analysis, it's obvious that NZDJPY momentum is getting stronger and a sell off still gaining Momentum targeting 70.00 historical support supported with a selling signals generated by more than momentum indicator. As we can see clearly on the monthly and weekly charts the momentum indicator and ADX Indicator triggering a strong selling signal…
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The NZDJPY failed to breach the static resistance placed to 83 in the 2017 , an event that caused the restart of decline , as you can see on the red bearish channel present on this chart If the pair will continue on this way , as i think ,we could to see an acceleration in the coming period . It could reach the dynamic support (38,2) provided by the Fibonacci fan line
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Next week will be important for the Kiwi and Aussie, in fact there will be a decision about the interest rate that currently is very low ( 1,5% for RBA AND 1,75 for RBNZ) and below the US rate (unusual for the so called high yield currencies) . There would be room for an increase but the loom of the trade war weight on this possibility( China is the main economical partner for these countries ) so is better remain short on this currencies , i think .
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The worst currencies of the day are the Turkish lira and the pound . The first one pay a wrangle between Erdogan with the US president ( him again!) while pound fell after the dovish words released by the BOE 's president . From the other side there is the Yen , on which inflow the money from the risky assets, because the stock market is in deep red today. In my opinion stay long on the Yen could to be a good idea in this period .
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The NZD/JPY , that in the 2017 failed to breach the static resistance placed to 83,8 , appear definitely bearish in the 2018 ; as you can see from the channel present on this chart The latest bounce have only caused an overbought situation , CCI and the Stochastic oscillators are overheat right now , a situation that could caused a sudden fall . In this case my target will be the last support provided by the Fibonacci Expansion (161,8%)
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Teniendo en cuenta que la tendencia principal es bajista, especialmente desde principios de este año, el par se encuentra luchando contra la directriz bajista de medio plazo. En este sentido, en un gráfico H4 podemos identificar una formación en cuña alcista, motivo por el cual las implicaciones bajistas a la ruptura de esta formación serían bastante significativas. Si el precio rompe a la baja el nivel 77.181 se abriría un nuevo escenario bajista con objetivos primarios en los últimos mínimos a…
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The NZDJPY continue on its bearish path remaining below the moving average of long period , despite some strength recorded in the latest weeks that leaded the CCI oscillator in an overbought situation If the pair will remain in such channel it could reach easily the S3 support provided by the Woodie pivot points , that will be my target for August
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The NZDJPY bearish trend began in Q3 of 2017 , when the pair failed for the third time to breach the static resistance placed to 83.8 ( look at the chart) an event that leaded the pair below the moving average of long period , also the stochastic fast oscillator ( short period) is bearish at the moment These bearish pressure should lead the pair to breach the first supports provided by the Fibonacci expansion , with the pair that could reach the 161% level for July
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The NZDJPY should continue its bearish trend ( started by the static resistance placed to 83,5) despite the latest bounce . A bounce that don't breached the dynamic resistance provided by the bearish channel , so the main trend is still in act In this chart ( based on a weekly candles ) the main trend appear more evident , a dynamic that should lead the pair to touch the Kelter low band for June
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