NZDJPY: Next Target 87.00?

With the 2008 low of 44.12 a very distant past, we have to wonder how long it will take to go back to the 86 and maybe even the 97.60 highs...

NZD/JPY WEEKLY:
You can see the corrective mess this pair traded in for over 3.5 years before the impressive run up to 86.00. Since then however momentum has been lost but we are trading within a clear bullish channel.

At the 86 top we did then have an aggressive sell-off down to 74.40 but in the grand scheme of things this is not really such a big deal (as it didn't even retrace 38.2%).

Even though price seems to have lost momentum you can also see 80.50 is a pivotal area which may well add support if the lower trendline does not.
NZD/USD Weekly" border="0" height="652" width="1195">
NZDJPY DAILY:
It is this chart that really grabs my attention and suggests we may well see a retest of the 87.00 highs. It shows the double bottom which has also respected the 80.50 support line and the projected target is conveniently our 87.00 resistance level.

The breakout line of this pattern will not be easy to define, so I would suggest if we see a break of the 84.11 swing high we can assume the pattern has been confirmed and look to trade it up to 87.00.
NZD/USD Daily" border="0" height="652" width="1195">
DISCLAIMER: Trading in the Foreign Exchange market involves a significant and substantial risk of loss and may not be suitable for everyone. You should carefully consider whether trading is suitable for you in light of your age, income, personal circumstances, trading knowledge, and financial resources. Only true discretionary income should be used for trading in the Foreign Exchange market. Any opinion, market analysis or other information of any kind contained in this email is subject to change at any time. Nothing in this email should be construed as a solicitation to trade in the Foreign Exchange market.

If you are considering trading in the Foreign Exchange market before you trade make sure you understand how the spot market operates, how Think Forex is compensated, understand the Think Forex trading contract, rules and be thoroughly familiar with the operation of and the limitations of the platform on which you are going to trade. A Financial Services Guide ( FSG) and Product Disclosure Statements (PDS) for these products is available from TF GLOBAL MARKETS (AUST) PTY LTD by emailing compliance@thinkforex.com.au .The FSG and PDS should be considered before deciding to enter into any Derivative transactions with TF GLOBAL MARKETS (AUST) PTY LTD. Please ensure that you fully understand the risks involved, and seek independent advice if necessary. Also, see the section titled “Significant Risks” in our Product Disclosure Statement, which also includes risks associated with the use of third parties and software plugins. The information on the site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. 2013 TF GLOBAL MARKETS (AUST) PTY LTD. All rights reserved. AFSL 424700. ABN 69 158 361 561. Please note: We do not service US entities or residents.