NZD/JPY 4H Chart: Channel Reaches Dominant Support

FX:NZDJPY   New Zealand Dollar / Japanese Yen
The New Zealand Dollar just plummeted against the Japanese Yen. The fall, however, was stopped by the most dominant support, which Dukascopy analysts could discover on the pair’s charts. The support belongs to a massive scale ascending triangle pattern of the daily chart .

Due to that reason a rebound is to be expected in a rather long term for forex traders. In that scenario the pair would first attempt to break through the various pivot points , simple moving averages until it reaches the resistance line of the a few months long channel down pattern.

Afterwards, the pair should break the just mentioned resistance and continue even higher.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out