NZD / JPY follows seven days of gains with steep decline

Interesting graphic

Interesting graphic

NZD / JPY was on a good run today. The pair had risen in seven straight days after rejecting support at 68.00 in late August.

Yesterday it looked like a break above a double top and headed for the best levels of the year. However, today the pair is down 1.2% to erase the last three days of gains.

Still, that’s not exactly a red flag on the chart. At worst, it looks like a triple top and is generally bullish. Alternatively, you could say it’s a messy top, but I wouldn’t go there.

For banking transaction ideas, check out eFX Plus


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button