FX.co ★ deja.schimmel | NZD/JPY

Hello traders, For the NZDJPY pair, we have reached the upper level of the four-hour trading range, which is at 88.70, while the current price is 88.60. Considering the price divergence with the MACD indicator on the four-hour timeframe, we can now expect a reversal and a price drop towards the lower boundary of the flat trading range, which is at the support level of 86.92. This level is supported by the 55-day moving average with a deviation of -1% from the regular moving average. Such fluctuations around the moving average with deviations of plus and minus 1% create a flat trading range.