HomeContributorsTechnical AnalysisNZD/JPY 4H Chart: Could Aim At 64.96

NZD/JPY 4H Chart: Could Aim At 64.96

The New Zealand Dollar has surged by 261 pips or 4.11% against the Japanese Yen since this week’s trading sessions. The currency pair tested the upper boundary of a long-term descending channel pattern at 66.10 on May 20.

As for next week’s trading sessions, the NZD/JPY exchange rate will most likely make a pullback towards the monthly pivot point at 64.96.

However, given that the currency exchange rate is currently trading near the upper line of the long-term descending channel pattern, a breakout could occur within the following trading sessions.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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