OANDA:NZDJPY   New Zealand Dollar / Japanese Yen

The counter NZDJPY is in the parallel channel from 08th March. The price is moving between the price range of 78.06 and 77.14. The flat-top resistance and the support baseline have been tested twice. Identifying the trend of the counter is very difficult when it is in the parallel channel. Swing trading is more preferable for this counter. Stop loss is mandatory while executing swing trading. The levels of the stochastic indicator will be very useful for swing trading.

The major levels for this counter are

R2 –78.35
R1 –77.99
PP –77.69
S1 –77.33
S2 –77.04


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