NZD/JPY continues to rise after the recent breakout of the horizontal Key Resistance Level 66.7805 identified by Autochartist on the 4-hour charts. Autochartist rates the Significance of this Key Level at the 4 bar level as a result of the four recent price reversals from this resistance.
This Key Level Breakout continues the preceding daily upward price impulse from the lower boundary (58.70, which reversed the pair up in June of this year) of the multi-year price range visible on the weekly NZD/JPY charts (from 58.70 to 68.80) – in which the pair has been trading for the last few years. The pair is expected to rise further toward the Forecast Price 67.7352 in the nearest time.
The following weekly NZD/JPY chart shows the longer-term picture of this currency pair’s movement:
NZD/JPY" title="NZD/JPY" width="596" height="533">