NZDJPY broke past its support turned resistance at 77.41 (horizontal overlap resistance) where price could potentially fall further to its major support at 76.49 (38.2% Fibonacci retracement, horizontal pullback support). Stochastic (89, 5, 3) reversed off its resistance at 97% where a corresponding drop down could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
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Past performance is not indicative of future results.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.