74

NZD/JPY: Trade ideas for Sep. 15

   Felipe Erazo

In the H1 chart, the NZDJPY made a bullish retracement to the resistance level of 87.75, where is located the 61.8 Fibo level and there, this pair found strong resistance by what is now trying to form a bearish pattern to fall up to the support level of 87.29.

At that level, 500 EMA (red line), which could act as a dynamic support for the NZDJPY. If this pair make a rebound on that level, it's expected that to rise to the resistance level of 87.88 in the medium term. The RSI indicator remains in negative territory.

Trading recommendations: Hold your current sell positions in the NZDJPY until the support level of 87.29.

JPY
Scroll to top