NZDJPY: WEEKLY SCENARIO – 21 February 2022

Technical Analysis

NZDJPY Technical Analysis: Weekly Chart

NZDJPY Technical Analysis

In the weekly charts, NZDJPY is trading in a down channel.

It is trading below 20 and 50 days SMA and above 100 days SMA.

The immediate support is 76.3134 & the resistance level is at 77.9358.

NZDJPY is trading in the down-channel until there is a trend reversal

NZDJPY Technical Analysis: Daily Chart

NZDJPY Technical Analysis

In the daily charts, NZDJPY is trading in an up channel.

It is trading above 20 days and below 50 and 100 days SMA.

The immediate support is 76.8731 & the resistance level is 77.3436.

NZDJPY is trading in the up channel until there is a trend reversal.  

How to Trade NZDJPY this Week:

NZDJPY will follow the downtrend until their trend reversal. So, remain bearish on NZDJPY.

TRADE SUGGESTION- SELL AT 77.10, TAKE PROFIT AT 76.85 AND STOP LOSS AT 77.33

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