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Nzdjpyforecast

NZDJPY - FALSE BREAKOUT IN PLAYSymbol - NZDJPY CMP - 87.21 NZDJPY is encountering resistance within the context of a broader downtrend. The pair appears unprepared to sustain upward momentum and is currently exhibiting signs of a potential local reversal. Within the framework of the prevailing global downtrend, the currency pair is undergoing a corrective countertrend movement and is currently testing the resistance level at 87.40, The liquidity concentration situated above this threshold has not yet permitted a continuation of the upward move. In the absence of sufficient bullish momentum, the price has reverted back into the established range, forming a false breakout above resistance. Given that the pair remains within the range and has returned below the resistance boundary, sustained bearish pressure at the 87.40 level (the upper limit of the trading range) could initiate a renewed decline, thus resuming the overarching downtrend. Key Resistance Level: 87.40 Key Support Levels: 86.50, 85.26 A confirmed consolidation of the price below the 87.40 resistance level would reinforce the view that bullish continuation is not imminent. Additionally, the weakening US Dollar Index is contributing to strength in the Japanese Yen, which may exert further downward pressure on the NZDJPY pair.
Short
by akshit_official
NZDJPY - BULLS BACK IN THE GAME?Symbol - NZDJPY CMP - 83.70 The NZDJPY currency pair is currently exhibiting a false breakout below the established range support, which, in the context of an emerging reversal pattern, suggests a potential breakdown of the prevailing bearish structure. From a fundamental perspective, recent market conditions have been highly volatile, primarily driven by unpredictable political rhetoric-particularly surrounding ongoing trade tensions. However, from a technical standpoint, the pair appears to be re-entering its prior trading range amid signs of market stabilization. The false breakdown of the support zone reinforces the probability of a short-term bullish reversal. The breach of the bearish trend structure, combined with the emergence of a reversal formation and re-entry into the range, increases the likelihood of upward price movement. Should bullish momentum sustain price action above the 83.70-84.20 support zone, further appreciation toward the 85.15–87.40 resistance range is plausible. Key Resistance Levels: 84.196, 86.150 Key Support Levels: 83.790, 83.310, 82.210 Sustained consolidation above the key support area may provide the bulls with an opportunity to drive the price higher toward a local zone of interest. While the broader trend remains neutral, the short-term outlook has shifted to a bullish bias.
Long
by akshit_official
NZDJPY - ATTEMPTING TO REVERSE TRENDSymbol - NZDJPY CMP - 85.40 NZDJPY currency pair is attempting to reverse its downtrend by breaking through the channel resistance. With the recent strengthening of the U.S. dollar, the pair has strong potential to advance. From a technical perspective, buyers are gaining momentum and providing market support, as evidenced by the rising local lows, which are progressively leading towards the breakout of the channel resistance. The key level to watch in this scenario is the resistance at 85.24, which is broken & serves as a crucial threshold, separating the market into two distinct zones. Should the bulls manage to secure a close above 85.24, a short-term rally towards 86.13, and potentially 86.90, may unfold. Key support levels: 84.50, 84.00 Key resistance levels: 85.24, 86.13, 86.90 Initial testing of the resistance at 85.24 could result in a brief pullback due to liquidity above this level. This pullback may be directed towards the previously broken channel resistance. However, the primary focus remains on a sustained price consolidation above 85.24, as this would confirm that the bulls are maintaining control of the market and are poised for further upward movement.
Long
by akshit_official
2
NZDJPY - TECHNICAL ANALYSIS FORECASTnzdJPY based on a technical chart ON D1 it clearly indicates a triangular pattern that contains a length of 29 candles and forms a bearish continuation pattern. The trading approach will be bearish for this currency after the breakout from the support levels. Selling zone: 76.750 - 76.650 Stop loss: 77.100 Target: 75.500 - 74.700 Disclaimer: All the information provided is for educational purposes. Before taking a trade kindly consult with your investment advisor. We are only providing for the educational and confidence built-up for the forex market
Short
by Kunali7