Forex Technical Analysis of NZDJPY for October 19, 2015 | Forex Signals Market
Sunday, October 18, 2015

Forex Technical Analysis of NZDJPY for October 19, 2015

Support                              -   S1 : 80.606 | S2 : 80.050 | S3 : 79.390
Resistance                          -   R1 : 81.822 | R2 : 82.482 | R3 : 83.038
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

In forex technical analysis on 4H chart, we observe that price moves within the lower channel of an upward Andrew's Pitchfork. EMA(50) and EMA(200) have upward cross and price remains above both of them.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis

4H Chart


The area 80.950  – 81.247   is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 81.900, 82.450, 83.000, 83.400, 83.750.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 80.480, 80.000, 79.600, 79.200, 78.880, 78.400, 77.800.

1H Chart


The area 81.130 – 81.260  is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 81.600, 81.900, 82.250, 82.450, 82.700.
Forex Technical Analysis
Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 80.840, 80.550, 80.300, 80.100, 79.600.

On forex technical analysis for NZDJPY at 1H chart, there is a Bearish Henry Harmonic Pattern.

Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.

You agree with our estimates? If you have another point of view, you can write your opinion in comments.

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