NZDJPY - Heavy Resistance or Inverse H&S Neckline
Like GBPNZD , NZDJPY is a pair that is meeting considerable Kiwi resistance.
Here, the combination of a frequented pivot (played support and resistance ), 200-day moving average and 50% Fib set a ceiling between 83.50 and 84.
The RBNZ will have a big say in whether this upswing stalls or extends to a lasting break.
I spoke about this setup and others in my weekend video:
https://beta.dailyfx.com/forex/video/daily_news_report/2015/12/05/Trading-Video-Dollar-and-Equity-Conviction-to-Smolder-Until-FOMC-Kiwi-a-Highlight.html?utm_source=TradingView&utm_medium=Kicklighter&utm_campaign=tv
Here, the combination of a frequented pivot (played support and resistance ), 200-day moving average and 50% Fib set a ceiling between 83.50 and 84.
The RBNZ will have a big say in whether this upswing stalls or extends to a lasting break.
I spoke about this setup and others in my weekend video:
https://beta.dailyfx.com/forex/video/daily_news_report/2015/12/05/Trading-Video-Dollar-and-Equity-Conviction-to-Smolder-Until-FOMC-Kiwi-a-Highlight.html?utm_source=TradingView&utm_medium=Kicklighter&utm_campaign=tv