NZDJPY remains in a strong ascending channel

15 Oca 2018

NZDJPY remains in a strong ascending support channel stretching back to the beginning of December 2017. Our first major support is at 80.26 (Fibonacci retracement, horizontal overlap support, channel support) and a bounce could occur at this level to push price up towards 81.25 resistance (Fibonacci extension, horizontal swing high resistance).

RSI (55) sees major support at 44% which corresponds to the bullish ascending channel we have. Only a break of this major support line would trigger a bearish exit in price.

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