• NZDJPY is capped in nearly a 5 year negative trend since December 2014.
• As you can see below there has been a large sell off as the pair have reached the cap of the negative trend line.
• Looking closer there is a TREBLE top on the daily and 4 hour candles.
• FIB retracement tool is suggesting 75.25 as the first target level which is over 100 PIPS away (61%...
The ASX has formed a shooting star on the weekly candles.
We are now awaiting confirmation, this weeks candle will need to decline and close below last weeks candle.
We can then look for targets of 6100 and 6000.
The NZDUSD is forming a pennant formation on the Daily candles and is pushing towards the top level at 0.6890.
A break above the pennant could see it rise the 0.6930 and then 0.6966.
There is no major fundamental news events coming from NZ this week.
CADJPY has formed a triple bottom also in an inclining channel.
There is also a possible Head and Shoulders pattern forming.
Looking to buy up to the shoulder line at 84.40.
Tight stop below the support line 83.50