NZD/JPY 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After abandoning the one and a half year highs of 83.47 the pair touched in December, a monthly floor was set at 80.65. It now appears that NZD/JPY is targeting the upper part of the established trading range again, hovering around the middle. A channel up pattern is leading the motion north and the pair now appears to have increased the steepness by breaking the upper boundary at 81.90. The upper Bollinger Band is currently capping the upside potential of the pair and a break above would lead to tests of 82.32, the daily R2.
© Dukascopy Bank SA
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