Chart of the day: NZD/JPY

Blake Morrow Forex Analytix

The NZDJPY had a false breakout in May last month and hit the 127% extension at 80.17 then reversed with a divergent RSI the last several weeks. The move below the 78.25 level today may expose a move back to the 76.62 161% extension (of the false breakout) in the days ahead.

Author

Blake Morrow

Forex Analytix

Blake Morrow spent most of his professional career as the Chief Currency Strategist for Wizetrade group for 15 years, and then the Senior Currency Strategist for Ally Financial after the acquisition of Tradeking which owned the Wizetrade Group.

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