FX.co ★ deja.schimmel | NZD/JPY

In my brief forecast for Monday, for the trading instrument NZDJPY, I expect further growth of the currency pair towards the next resistance level. Most indicators on the hourly time frame point to an increase in the currency pair towards the next resistance level. The overall trend on the 1-hour chart remains bullish. On the 1-hour chart, we see the currency pair NZDJPY near the resistance level of 93.848. On Monday, I expect a breakout of this resistance level at 93.848 and further growth of the currency pair towards the next resistance level at 94.080. If the currency pair NZDJPY manages to break above this resistance level at 94.080 and hold above it, then I will expect further growth of the currency pair towards the next resistance level. However, if the currency pair NZDJPY fails to break above the resistance level at 94.080 and hold above it, then I will expect a pullback of the currency pair towards the support level at 93.480.