NZDJPY Likely To Drop Towards 69.000 IF the Support Breaks
Looking at the chart, the monthly TF gives an overall technical perspective to where this pair might be headed. the three green lines are concrete support and resistance levels traced from the monthly charts. Shall the current or future candle (Monthly candle) close below the 73.000 level (green line support) we can confirm that the triangle has been breached and the price would likely fall towards 69.000 level thereafter.
Fundamentally, the NZD is expected to loose most of its value this year as the economy is not doing too well plus the currency is highly overvalued against the USD too.
This just represents my outlook on this pair and its not a trade signal. shall the criteria meet i will post the trade details in a new post. Cheers
Fundamentally, the NZD is expected to loose most of its value this year as the economy is not doing too well plus the currency is highly overvalued against the USD too.
This just represents my outlook on this pair and its not a trade signal. shall the criteria meet i will post the trade details in a new post. Cheers
