NZDJPY approaching the upper resistance of the price channel in line with the horizontal swing high support, 161.8% Fibonacci retracement and the 61.8% Fibonacci extension. Price is likely to reverse off this level to take support at the horizontal swing low support which is in line with the 61.8% Fibonacci extension level. Our bearish bias is further supported by how stochastic is approaching a hidden resistance level at 92.64.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.