NZD/JPY Price Analysis: Mixed bias across the time-frames
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NZD/JPY Price Analysis: Mixed bias across the time-frames

  • NZD/JPY is a mixed bag across the time frames. 
  • Bulls seeking a daily expansion while the monthly is overstretched. 

The price is stalling on the upside, as seen on the weekly and daily charts. However, there has already been a 50% mean reversion of the daily bullish impulse. 

The following is a top-down analysis that illustrates the various biases per time frame. 

Monthly chart

The monthly chart shows that te price is due for a downside correction of the bullish impulse. 

Weekly chart

The weekly chart is in the process of a significant downside correction and there is still room to go until a 38.2% Fibonacci has been met. 

Daily chart

However, the price has dropped to test a 50% mean reversion level, albeit with a naked 61.8% Fibonacci. This means there is still scope for a test of the level which meets dynamic support. 

4-hour chart

The price is not in a bullish enough position until it has broken the overhead resistance. 

However, dynamic support is expected to give rise to an upside continuation. 

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