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FX618Analysis

NZDJPY Likely To Drop Towards 69.000 IF the Support Breaks

Short
New Zealand Dollar / Japanese Yen (FX:NZDJPY)  
FX618Analysis  
FX:NZDJPY   New Zealand Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators NZDJPY jpy NZD kiwi Exponential Moving Average (EMA) support rbnz safehaven yen
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trendanalysis chartpattern indicator nzdjpy jpy nzd kiwi ema support rbnz safehaven yen
Looking at the chart, the monthly TF gives an overall technical perspective to where this pair might be headed. the three green lines are concrete support and resistance levels traced from the monthly charts. Shall the current or future candle (Monthly candle) close below the 73.000 level (green line support) we can confirm that the triangle has been breached and the price would likely fall towards 69.000 level thereafter.

Fundamentally, the NZD is expected to loose most of its value this year as the economy is not doing too well plus the currency is highly overvalued against the USD too.

This just represents my outlook on this pair and its not a trade signal. shall the criteria meet i will post the trade details in a new post. Cheers

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