This is the chart analysis of the NZD/JPY on the D1 time frame. The trend chart below indicates that the NZD/JPY is cycling down on the D1 time frame. Current support level is at 86.25, see the two yellow lines on the right.
Traders should set an audible price alert at this support level. When the alert hits and below that price, we would look for a confirmation sell signal on this pair on The Forex Heatmap® forex heatmap. If this pair breaks lower the next target support area is around 84.75, or about 150 pips below the alert price. The charts you see below are 5/12 exponential moving averages set on the meta trader trading platform. These simple trend indicators can be set up on any forex brokerage platform.
NZD/JPY Chart Analysis