NZDJPY neutral

NZDJPY is looking for a way out of range

01 August 2022 409
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NZDJPY has reached the level 83.5 confirming the stability of resistance 86.5 near the upper border of the flat. Now the 83.5 support near the lower border is being challenged again.

NZDJPY stays within the range of 83.5-86.5 for 2 months. Traditionally, it is believed that the longer the flat lasts, the stronger the movement will be after the confirmation of the breakdown of its borders. 

If NZDJPY is fixed below 83.5 in the next few days, the movement can speed up towards 82.5 and 80. Otherwise, the growth target in the form of resistance at 86.5 will be actual again.

This content is for informational purposes only and is not intended to be investing advice.

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