Please, check our technical outlook for NZDJPY.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 85.439.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 85.706 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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✅JOIN FREE TELEGRAM: t.me/signalsproviderfx
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🔝Best Broker: icmarkets.com/trading-markets/forex/?camp=51166
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🔝Best Broker: icmarkets.com/trading-markets/forex/?camp=51166
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.