NZD/JPY: Daily
Careful, Kiwi bears! NZD/JPY is testing the rising channel support on its daily time frame and may take a break from its recent drop. Stochastic is deep in the oversold area, which means that a bounce is overdue. Price could head back to the top of the range near the 95.00 major psychological level or at least until the mid-channel area of interest at the 90.00 handle. A downside break could still be possible though, as the recent selloff has been pretty steep. Make sure you review our lesson on How to Trade Breakouts if you plan on taking that route.
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