NZD/JPY 4H Chart: Bullish momentum likely to continue - Trade Pattern Ideas - Dukascopy Bank
Thu, 19 Dec 2019 06:43:41 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Sell
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Buy
Buy
Neutral
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇒
The New Zealand Dollar has been trading in an ascending channel pattern against the Japanese Yen since the beginning of the fourth quarter. The currency pair has surged by 8.42% in value during this period.
Everything being equal, the NZD/JPY exchange rate will most likely continue to edge higher during the following trading sessions. A potential breakout could occur through the upper boundary of the channel pattern.
However, the weekly R1 at 72.97 could provide resistance for the currency exchange rate during next week's trading sessions.
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