News from across the continent
- Contact Us
- |
- عربي
- |
- English
Powered By
Breaking News
NZDJPY (Update): Target Done, What Should We Do Now?
Most Read
More News
- NZDJPY (Update): Target Done, What Should We Do Now?
11/02/2013 10:30:41 AM
- Long-Term EURAUD Buy Position Offers More Than 1000 Pips Of Potential Profits
25/01/2013 05:44:42 AM
- U.S. Dollar Versus Egyptian Pound: A Review In Need of Update
16/01/2013 01:58:46 PM
- AUDNZD: A multi-year head and shoulders top pattern offers selling opportunity
11/01/2013 01:31:36 PM
- Monkey economy and the risk-taking
28/12/2012 05:11:23 PM
- Educational Analysis: Using different technical catalysts to sell the AUDUSD pair
19/12/2012 08:21:16 PM
- NZD-JPY: Significant Breakout Despite Year-End Atmosphere
16/12/2012 08:07:07 PM
- Why Markets Shrugged-off the Fed`s Major Stimulus Package and Failed to Rally?
14/12/2012 12:34:21 PM
Publish Date11/02/2013 10:30:41 AM
Last Update11/02/2013 10:55:26 AM
On December 16 , we have discussed together the technical outlook for the NZDJPY pair was valued at 70.55 and we suggested further appreciation towards 77.30 boundaries.
The comparison between the first image published on December 16 and the second one of the current value shows that target done.
Click on the image for a larger view
No (1).
Click on the image for a larger view
No (2).
What should we do now? The pair’s buyers should close their positions since the graph shows a clear case of overbought despite the positivity on Vortex (trend indicator).
Moreover, the current level represents 61.8% Fibonacci of the wave from 97.77 recorded in 2007 to the significant low of 44.19 recorded in 2009.
Only a break above the psychological level of 80.00 may trigger panic buying interests towards 83.35 but we prefer to stand aside.
Remember, staying aside is a position!
|
|
Tweet |
Comments
You must be registered as a member of the forums and logged into your account to post messages. If you do not have a member account, please Sign In or Register.