NZD/JPY 4H Chart: Tests 50– period SMA - Trade Pattern Ideas - Dukascopy Bank
Wed, 14 Aug 2019 06:15:10 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Neutral
Buy
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Neutral
Sell
Sell
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇒
⇘
⇘
Downside risks have dominated the New Zealand Dollar versus the Japanese Yen during the past two weeks. The currency pair bounced off from a record low at 67.50 at the end of yesterday's trading sessions.
Currently, the exchange rate is testing a resistance level formed by the 50- hour simple moving average at 68.77.
If the currency exchange rate passes the 50– hour SMA, a surge towards a resistance cluster formed by the monthly S1 at the 100– hour SMA at 70.67 could be expected during the following trading sessions.
However, if the resistance level holds, the NZD/JPY pair will continue its downward swing in the short term.
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