NzdJpy pattern looking awfully similar to the 2008 GFC

FX:NZDJPY   New Zealand Dollar / Japanese Yen
The similarities are undeniable, and to be honest I don't think the circumstances are that different either. 7 years of unprecedented printing press activity and ridiculous 'easy money' policy by central banks is a recipe for disaster.

The yen is on it's way to becoming totally worthless but ironically 2016 is shaping up for yen strength from a technical standpoint. The massive head and shoulders pattern here is in play and suggests a downside target of 50.50. We are close to breaking the neck but as this is a weekly chart some patience will be required to see the position play out.

Fundamentals and technicals are lining up. Stay short into the end of the year. We may need a catalyst such as the US elections to get us going. Either way, strap yourselves in and get ready for a wild ride!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out