NZD/JPY breakout could occur

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)NeutralSellBuy
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇘⇗

[ANNOUNCE]The NZD/JPY currency pair bounced off a support level at 76.50 on October 1. As a result, the New Zealand Dollar surged by 1.22% against the Japanese Yen during this period.[/ANNOUNCE]

All things being equal, the exchange rate could continue to edge higher. A breakout through the upper boundary of a descending channel pattern could occur during the following trading sessions.

However, if the channel pattern holds, bearish traders might target the support level at 76.25 next week.

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