| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Sell | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
As apparent on the chart, the NZD/JPY currency pair failed to decline below the 69.00 level. The pair has been recovering since the middle of August.
Given that the exchange rate is supported by the 55-, 100– and 200-hour moving averages in the 70.00 area, it is likely that some upside potential could continue to prevail in the market. In this case the rate could target the Fibo 50.00% at 73.00.
In the meantime, note that the currency pair would have to exceed the monthly R1 at 72.34. If the given level holds, it is likely that a reversal south could occur, and the pair could re-test the 69.00 mark.