Ahead of the RBNZ, the cross has been forming a bullish hourly flag within an ascending channel and bullish Ichimuko Cloud formation, while trading between the 61.8% Fibo and 78.6% Fibo of 20-24th March range. On a break to the upside, put of the flag formation, a continuation of the upside would be expected of the length of the flag pole, around 50 pips, fro the break-up point of the flag, 76.90 target. However, first stop could come at the top of the eclipse and daily trend line resistance around 76.70, that’s if the 78.6% fibo doesn’t hold up the bulls first, located at the flags highest point of 76.49. To the downside, bears can target the cloud support and 38.2% fibo confluence of same range, meeting the prior lows, making an area od between 75.93/96. First, bears will need to break the 61.8% Fibo at 76.27 and then the 50% Fibo at 76.11. NZD/JPY hourly chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD seesaws near 1.3200 on Brexit uncertainty FX Street 4 years Ahead of the RBNZ, the cross has been forming a bullish hourly flag within an ascending channel and bullish Ichimuko Cloud formation, while trading between the 61.8% Fibo and 78.6% Fibo of 20-24th March range. On a break to the upside, put of the flag formation, a continuation of the upside would be expected of the length of the flag pole, around 50 pips, fro the break-up point of the flag, 76.90 target. However, first stop could come at the top of the eclipse and daily trend line resistance around 76.70, that's if the 78.6% fibo doesn't hold… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
