Currency Analyst since 2010

NZD/JPY: potential H&S

NZD/JPY may be forming a 'head and shoulders' pattern.

The pair has already breached the daily Ichimoku Cloud at 77.65 on Tuesday. Today kiwi is struggling at the 200-day MA in the 77.15 area.

Further support lies at 76.70 and in the 76.50/00 area. The loss of the latter will be a very bearish sign.

Chart. Daily NZD/JPY

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