NZD/JPY - Weekly - Technical analysis published on 06/19/2020 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : Weekly
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
61%
0%
39%
My opinion
Bearish under 71.32 JPY
My targets
66.96 JPY (-1.51)
65.11 JPY (-3.36)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on NZD/JPY. As long as you are under the resistance located at 71.32 JPY, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 66.96 JPY would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 65.11 JPY as an objective. Crossing it would then enable sellers to target 61.93 JPY. If the resistance 71.32 JPY were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.3
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This analysis was given by RaviM. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NZD/JPY rating is 68.47 JPY. The price is lower by -1.08% over the 5 days and was traded between 68.39 JPY and 70.02 JPY over the period. The price is currently at +0.12% from its lowest point and -2.21% from its highest point.68.39
70.02
68.47
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Weekly of this NZD/JPY chart shows a bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : Weekly
In fact, 11 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : Weekly
Resistance of channel is broken
Type : Bullish
Timeframe : Weekly
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 61.93 | 65.11 | 66.96 | 68.47 | 71.32 | 73.35 | 75.36 |
| Change (%) | -9.55% | -4.91% | -2.21% | - | +4.16% | +7.13% | +10.06% |
| Change | -6.54 | -3.36 | -1.51 | - | +2.85 | +4.88 | +6.89 |
| Level | Intermediate | Intermediate | Intermediate | - | Major | Intermediate | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 67.86 | 68.21 | 68.49 | 68.84 | 69.12 | 69.47 | 69.75 |
| Camarilla | 68.61 | 68.67 | 68.72 | 68.78 | 68.84 | 68.90 | 68.95 |
| Woodie | 67.84 | 68.19 | 68.47 | 68.82 | 69.10 | 69.45 | 69.73 |
| Fibonacci | 68.21 | 68.45 | 68.60 | 68.84 | 69.08 | 69.23 | 69.47 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 64.24 | 66.21 | 67.72 | 69.69 | 71.20 | 73.17 | 74.68 |
| Camarilla | 68.26 | 68.58 | 68.90 | 69.22 | 69.54 | 69.86 | 70.18 |
| Woodie | 64.00 | 66.10 | 67.48 | 69.58 | 70.96 | 73.06 | 74.44 |
| Fibonacci | 66.21 | 67.54 | 68.36 | 69.69 | 71.02 | 71.84 | 73.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 60.87 | 62.16 | 64.54 | 65.83 | 68.21 | 69.50 | 71.88 |
| Camarilla | 65.90 | 66.24 | 66.57 | 66.91 | 67.25 | 67.58 | 67.92 |
| Woodie | 61.41 | 62.43 | 65.08 | 66.10 | 68.75 | 69.77 | 72.42 |
| Fibonacci | 62.16 | 63.57 | 64.43 | 65.83 | 67.24 | 68.10 | 69.50 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 52.04 | |
| MACD (12,26,9): | -0.3900 | |
| Directional Movement: | 4.46 | |
| AROON (14): | 85.72 | |
| DEMA (21): | 66.62 | |
| Parabolic SAR (0,02-0,02-0,2): | 61.52 | |
| Elder Ray (13): | 1.94 | |
| Super Trend (3,10): | 61.83 | |
| Zig ZAG (10): | 68.47 | |
| VORTEX (21): | 0.9300 | |
| Stochastique (14,3,5): | 83.77 | |
| TEMA (21): | 67.09 | |
| Williams %R (14): | -26.32 | |
| Chande Momentum Oscillator (20): | 3.21 | |
| Repulse (5,40,3): | 0.8700 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.2200 | |
| Courbe Coppock: | 0.46 |
| MA7: | 69.01 | |
| MA20: | 68.78 | |
| MA50: | 66.45 | |
| MA100: | 66.79 | |
| MAexp7: | 67.76 | |
| MAexp20: | 67.41 | |
| MAexp50: | 68.91 | |
| MAexp100: | 71.06 | |
| Price / MA7: | -0.78% | |
| Price / MA20: | -0.45% | |
| Price / MA50: | +3.04% | |
| Price / MA100: | +2.52% | |
| Price / MAexp7: | +1.05% | |
| Price / MAexp20: | +1.57% | |
| Price / MAexp50: | -0.64% | |
| Price / MAexp100: | -3.64% |
Quotes :
2020-06-19 20:59:59
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Real time data
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Forex
News
The latest news and videos published on NZD/JPY at the time of the analysis were as follows:
-
NZD/JPY Can Take Advantage of, But Not Dependent on Risk Appetite (Quick Takes Video)
-
Technica Focus: Big Confluence in NZD/JPY
-
Why selling the NZD/JPY could be ‘a good short-term trade’
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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