NZD/JPY 4H Chart: Pressure by 50-hour SMA - Trade Pattern Ideas - Dukascopy Bank
Wed, 28 Aug 2019 06:03:28 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Buy
Buy
Stochastic(5;3;3)
Neutral
Neutral
Buy
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇒
⇘
⇒
The New Zealand Dollar has continued to trade in a descending channel pattern against the Japanese Yen. The 50-hour simple moving average has pressured the currency pair down during the past two weeks.
The NZD/JPY exchange rate is currently trading near the bottom border of a medium-term descending channel at 67.24. From a theoretical point of view, a breakout could occur today.
If the breakout occurs, bearish traders could dominate the currency exchange rate until the end of this week's trading sessions.
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