NZDJPY approaching resistance, potential drop!
NZDJPY is approaching our first resistance at 78.08 (horizontal swing high resistance, 61.8%, 50% Fibonacci retracement, 100% Fibonacci extension, descending channel resistance) where a strong drop might occur below this level pushing price down to our major support at 75.60 (horizontal pullback support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding rise in price should it react below this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding rise in price should it react below this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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