Daily Forex Update: NZD/JPY

By: Dima Chernovolov

NZD/JPY recently broke the Key Support level 80.3290, which was previously identified by Autochartist on the daily charts. Autochartist measures the Significance of this support level at the below-average 4 bar level – which corresponds to the four previous price reversals from this price level. NZD/JPY is expected to fall to the forecast price 78.8672 in the nearest time, which is also indicated by the following PowerStats analysis.  

07032017dailyfximage1

As can be seen from the PowerStats chart below, the lower boundary of the daily Expected Price Range calculated by Autochartist for this currency pair (78.4037) stands well below the forecast price calculated for the breakout of the aforementioned Key Support level (78.8672)– which adds to the likelihood the pair will continue to move toward the forecast price 78.8672 tomorrow.

07032017dailyfximage2

To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report, and you’re done! You will now receive a quick morning technical outlook of the markets.

 

For further information on this and other Autochartist products visit www.autochartist.com

0 Likes
5113 Views

You may also like

Leave A Comment

Please enter your name. Please enter an valid email address. Please enter message.