NZD/JPY 4H Chart: Could continue to decline - Trade Pattern Ideas - Dukascopy Bank
Wed, 09 Oct 2019 05:57:24 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇒
⇘
The New Zealand Dollar has depreciated about 3.5% in value against the Japanese Yen since mid-September.
As apparent on the 4(H) chart, the exchange rate is trading near the upper boundary of a descending channel pattern at 67.60.
Given that the NZD/JPY currency pair is near the upper line of the descending channel, a breakout could occur in the nearest future.
Although, a resistance cluster formed by the combination of the 100– and 200– hour SMAs at 67.87 could pressure the currency exchange rate lower during the following trading sessions.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.
To learn more about Dukascopy Bank Binary Options
/ Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information, please call us or make callback request.
To learn more about Business Introducer and other trading related information, please call us or make callback request.
For further information regarding potential cooperation, please call us or make callback request.