Dynamic Trader Forex Blog FXCPS.co.uk

The Dynamic Trader Forex Blog

Thursday, 5 November 2009

The New Zealand Dollar Japanese Yen.

Good evening Dynamic Traders,

Tonights chart is of the NZDJPY.

Current price action coulod possibly be forming a bearish flag/two legged extension, but the V.I. is not too far below.

Price is following the underside of the broken trendline here at the moment and RSI is down and below fifty, but caution is warranted as all trends are up and NFP is out tomorrow.

Keep an eye on this cross to see the outcome of the battle between a possible pattern against the trends.

As always please ensure to do your own analysis before taking any trades.
















Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

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