Daily Forex Update: NZD/JPY

By: Dima Chernovolov

Autochartist recently identified the Key Resistance level 81.6080 (of the type Approach) on the 30-minute NZD/JPY charts. Autochartist rates the Significance of this resistance level at the above-average 7 bar level – which is the result of the seven previous price reversals from this price level. AUD/NZD is expected to reach this key resistance level in the nearest time, which is also confirmed by the PowerStats analysis shown below.  

As can be seen from the PowerStats stats chart below, the upper border of the daily Expected Price Range calculated by Autochartist for this currency pair (81.54) nearly coincides with the aforementioned Key Resistance Level (81.6080)– which increases the probability NZD/JPY will continue to rise toward the resistance level 81.6080 tomorrow.

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