NZD JPY

[PCMAnalyst]

On the H4 TF, by having the harmonic pattern Invab=cd being formed: we are observing a reversal. We are expecting a bullish move if the demand fuels up in the market.

[PCMAnalyst]

On the H4 TF we are observing the lower channel line being broken. We are expecting a drop by having the price stabilized beneath the channel.

[PCMAnalyst]

We are observing a negative divergence on the weekly TF, expecting to see a drop intermediately in the market if the selling pressure climbed.

[PCMAnalyst]

We are countering a bearish divergence on the H1 TF. The expectation favors for a drop if just the trend line is being violated.

[PCMAnalyst]

On the daily chart, the price is fluctuating within a consolidating area. If the lower support level (87.25) is blown down and become stabilized down there, we are expecting a drop thereafter.

[Raam]

NZDJPY - 10.06.2014

This could hold as a pretty strong resistance level for the pair, especially with stochastic already headed south.

NZD/JPY could still make a test of the 87.50 minor psychological resistance or start selling off from its current levels until the previous lows at the 86.00 mark.

[PCMAnalyst]

On the H4 chart, we see the Shark harmonic pattern. We are expecting a drop according to the bearish divergence.

[Raam]

NZD/JPY - 26.06.2014

NZD/JPY is trading at 89.16, up 0.19% on the day, having posted a daily high at 89.26 and low at 88.85.

Technical Levels
Immediate resistance above at 89.26, 89.54 and 89.60.
Support below at 89.16, 89.04 and 89.01.
Hourly RSI is looking upside at 51 bullish.
Trend overbought condition with slightly bullish.

[PCMAnalyst]

[PCMAnalyst]