NZD/JPY Price Analysis: Bears stepping up at critical daily resistance

The bird has taken flight mostly on the back of the greenback and the Aussie dynamics which exposes it to a downside correction, both technically and  |  16/04/2021 01:53
  • NZD/JPY meets daily resistance and the focus is on a correction.
  • NZD/JPY bears are seeking an optimal entry from the lower time frames.

The bird has taken flight mostly on the back of the greenback and the Aussie dynamics which exposes it to a downside correction, both technically and fundamentally. 

the following illustrates that the price is meeting resistance on the daily chart and is potentially due for a correction to prior resistance. 

NZD/JPY daily chart

30-min chart

Bears will be looking to engage with the cross from a lower time frame and from a vantage pout where the structure is currently holding up the correction.

On a break below the congestion, aka, the bar room brawl, the bears can look for an optimal entry to target the daily support structure. 

 

Share

Popular News

Show More Popular News

TheFXApp's Views

TheFXApp analyses will provide both fundamental and technical comprehensions on finance
and other asset classes for TheFXApp viewers

Back

Login to TheFXApp Account

Your TheFXApp account gives you access to the tools that we offer our customers including our
Technical Studies & Sentiment for your accounts.

Forgot Password?

Don't you have a TheFXApp account? With a few easy steps you can easily register to TheFXApp

Create a TheFXApp's Account

Your TheFXApp account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

register_ty

Thank you!

Welcome to TheFXApp family!

You have succesfully completed the registration.
We will send you an e-mail to give you some
instructions and our Terms and Conditions!
Our account representatives will be contacting you as
soon as possible. If you have any further questions
please do not hesitate to mail us via info@thefxapp.com