NZD/JPY 1H Chart: Upside potential

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralNeutralBuy
SAR(0.02;0.2)SellBuySell
Aggregate⇒⇒⇒

[ANNOUNCE] The New Zealand Dollar continued to appreciate against the Japanese Yen, however, the NZD/JPY currency pair could not surpass the psychological level at 76.50. [/ANNOUNCE] 

Currently, the pair is trading at the monthly PP at the 75.68 mark. Given that the exchange rate is being supported by the 55-, 100– and 200-hour SMAs, it is likely that some upside momentum prevails in the market. A possible upside target is the upper boundary of the long-term descending channel located circa 77.30. 

However, this advance might not be immediate, and the rate might re-test the monthly S1 at 74.58.

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