the Kiwi retraced much of its recent gains due to a global shift to risk-aversion amid renewed concerns on Europe as well as poor growth indicators from the United States
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the Kiwi retraced much of its recent gains due to a global shift to risk-aversion amid renewed concerns on Europe as well as poor growth indicators from the United States
we can see that the pair has closed it's daily candle above 64.00 . so , that's means that up trend is expected and the pair might head to 63.50 and then 63.30 ,but also the hourly correction is expected before continue in the up trend
this pair on the 4 hr chart showed bearish wave with 3 strong candles formed lately. and now trading under ema50 line. sould test the support level at 62.25 and if it could close under it might see more falling to south levels
we can notice from the chart that the pair has closed it's daily candle under 64.00 , that's mean the down trend is expected and the pair might head to 63.25 then 63.00 , however the pair made a hourly correction
The NZD/JPY fell sharply in the last few days, falling about 750 pips from 68.85. In the process, it broke through a few support levels – the 100 SMA, 64.11 and 62.53
If a M15 close above 65 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 64.30 sell only and do not buy. If price closes back above it again do nothing
The range 65 and 64.30 is neutral area, any trade done in between is personal decision and not part of this analysis
NZD / JPY expect resistance to upward movement in the area around 65. MA50 and MA20 bullish cross, which signals the rise, MACD goes to positive territory
the NZD/JPY pair is set up in the middle of an ascending channel that has been in place since the last week of May, and traders have an opportunity to swing trade the pair to the downside should risk-appetite continue to wane.
It is more likely to go down to around 62 or lower, and after that, it might have potentially to go up to around 65
If a M15 close above 64 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 63.30 sell only and do not buy. If price closes back above it again do nothing
The range 64 and 63.30 is neutral area, any trade done in between is personal decision and not part of this analysis