NZD/JPY 1D Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 1D 1W 1M
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Buy Sell
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The New Zealand Dollar is appreciating against the Japanese Yen in a one month long ascending channel, which started to form after the substantial advance of the Kiwi in the first month of summer. By the moment, the pattern has two reaction highs and two reaction lows and is moving downwards to reach the bottom trend-line for the third time. Except for the 20-day SMA, there are no other sizable barriers on its way. In contrast, from the top it is experiencing pressure from the updated weekly PP located at the 83.16 level. Despite these facts, a rebound is expected to follow. On the other hand, there is a chance that the existing formation will be distorted by announcement of the New Zealand's unemployment rate on Tuesday.

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