| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇘ |
The New Zealand Dollar has been appreciating against the Japanese Yen since the beginning of June. This movement has been bounded in the rising wedge pattern.
Last Thursday, the NZD/JPY currency pair reversed north from the lower pattern line at 71.50. Thus, from a theoretical point of view, it is expected, that some upside potential could prevail in the market, as the pair targeted the upper wedge boundary located in the 73.50/74.00 range.
If the given wedge holds, a reversal south is likely to occur within the following trading sessions. Otherwise, it is expected, that a breakout north could occur. A potential upside target is the psychological level at 75.00.