We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
More View more
Real Time News
  • RT @MWMozee: Also, US reports 5th case of #coronavirus US stock futures: $COMP falls 1.3% $DJIA down 0.8% $SPX drops 0.9% Hong Kong's…
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh88nOv https://t.co/RMxpXvpa61
  • RT @arwaib: BREAKING: Jets flying over Baghdad right now after reports of expected #US response to earlier rocket attacks that slammed in e…
  • RT @ForexLive: China confirmed #coronavirus cases: Jan 17: 41 Jan 19: 62 Jan 20: 201 Jan 21: 291 Jan 22: 440 Jan…
  • #JPY, #USD #gold up with bond futures, #crudeoil down with S&P 500 stock futures as #coronarovirus fears grip markets at weekly trading open. Backstory here - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/01/26/Japanese-Yen-US-Dollar-May-Gap-Higher-as-Week-Starts-on-Virus-Fears.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr (via @ddubrovskyFX) https://t.co/bq96FHKBNs
  • RT @conorsen: @selling_theta @LJKawa https://t.co/vVfmLgHd9b
  • RT @iv_technicals: So you thought it was all contained, right?! Mhm. Cool stuff. https://t.co/PShm600IPS
  • RT @globaltimesnews: #Hubei Province reported 371 new cases of #WuhanCoronavirus and 24 new deaths on Jan 26 local time; total infection ca…
  • What is market volatility and what does a market event volatility look like? Find out from @PaulRobinsonFX here: https://t.co/vg7w10la3j https://t.co/QpD4VP4vDc
  • The last time the $USDJPY suffered this large of a bearish gap in a bearish slide (this one still nascent), was back in May: https://t.co/hTxfyVFiox
NZD/JPY Technical Outlook: Bearish Correction Ahead?

NZD/JPY Technical Outlook: Bearish Correction Ahead?

2019-12-11 02:00:00
Dimitri Zabelin, Junior Currency Analyst

New Zealand Dollar, Japanese Yen, NZD/JPY – TALKING POINTS

  • NZD/JPY technical cues signal upside momentum is waning
  • Pair is approaching key resistance at 71.822 – will it hold?
  • Bearish correction may be amplified by fundamental risks

Learn how to use politicalrisk analysis in your trading strategy!

NZD/JPY continues to climb above the October uptrend – red parallel channel – though upside momentum appears to be ebbing. If a correction is in the cards, the next possible area of support may be at the 69.897-70.030 zone where selling pressure may be alleviated as buyers may start swooping in.

NZD/JPY – Daily Chart

Chart showing NZD/JPY

NZD/JPY chart created using TradingView

However, if the pair continues to climb higher, the next major point of resistance may be at 71.822. A break above that could open the door to testing the peak of the July 2019 selloff at 73.245. However, traders may be waiting for critical fundamental developments to evolve before placing their trades. This includes the FOMC rate decision, UK election outcome and the US’ decision on the December 15 tariff hike against China.

NZD/JPY – Daily Chart

Chart showing NZD/JPY

NZD/JPY chart created using TradingView

Zooming out to a weekly chart, however, shows a much gloomier picture. The pair has been trading below a descending resistance channel since January 2015. Recent price action suggests the pair may be attempting to make another attempt at re-testing resistance. Failure to break above the ceiling could result in a selloff as discouraged bulls offset their long positions.

NZD/JPY – Weekly Chart

Chart showing NZD/JPY

NZD/JPY chart created using TradingView


--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter


DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.