In this pair, technical analysis shows a technical figure Descending Triangle. The Descending Triangle has broken through the support line on 20/08/2021. NZDJPY forming a bearish formation on a daily chart . If the price holds below this level we will have a possible bearish price movement with a forecast for the next 42 days with a target of 73.47. If you decide to enter this position, experts say your stop-loss order should be placed at 77.94.
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Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.