Trading Channel in play
Despite two false breaks (one to the upside and the latest to the downside) $NZDJPY remains within a descending trading channel that you see in the chart.
The nearest resistance zone that includes two MA lines may prevent $NZDJPY from reaching the top of the channel, but based on latest price action, good odds that we will see this pair reaching 74 and perhaps even 75.5 to complete a bearish harmonic pattern.
All that NZDJPY needs is a little bullish momentum from USDJPY that is bouncing on the psychological zone of 100 JPY per USD.
Tomer, The MarketZone
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The nearest resistance zone that includes two MA lines may prevent $NZDJPY from reaching the top of the channel, but based on latest price action, good odds that we will see this pair reaching 74 and perhaps even 75.5 to complete a bearish harmonic pattern.
All that NZDJPY needs is a little bullish momentum from USDJPY that is bouncing on the psychological zone of 100 JPY per USD.
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week goo.gl/14UewP
To subscribe to the newsletters - goo.gl/HXjCPV
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT
Kommentera:
Target reached
Kommentera:
Both target zones were reached and also Target 1 of the bearish Gartley was attained.
Now 94 can be a potential bullish continuation zone - New (and old) target - 77
goo.gl/5u89f8
Now 94 can be a potential bullish continuation zone - New (and old) target - 77
goo.gl/5u89f8