31.10.201812:31 Forex Analysis & Reviews: NZD/JPY Approaching Resistance, Prepare For A Reversal

Long-term review

NZD/JPY is approaching its resistance at 74.35 (100% Fibonacci extension x2, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to reverse down to its support at 73.60 (38.2% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.

NZD/JPY is approaching its resistance where we expect to see a reversal.

Sell below 74.35. Stop loss 74.82. Take profit at 73.60.

Exchange Rates 31.10.2018 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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