NZD/JPY 4H Chart: Potential upside reversal

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuySell
Aggregate

The NZD/JPY currency pair has appreciated about 4.44% in value since the beginning of October. The currency pair tested a psychological resistance level at 70.00 during yesterday's trading session.

As for the near future, the New Zealand Dollar will likely edge lower within the following trading sessions. The potential target for bearish traders would be at the monthly pivot point at 68.02.

However, a possible upside reversal from a support cluster at 68.80 could be expected within this week's trading sessions.

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