NZD/USD and NZD/JPY correlation runs at 95,2%. This tells us that they are strongly positively correlated. We can use that to our advantage.
We can see on a weekly time frame that the market went to retest resistance area 0.68555, which was a support area for the past few months.
The market couldn't break it but instead it closed below and formed a BEARISH HARAMI pattern. Now with all that being said I'm expecting a bearish movement in the next coming weeks.
We can see on a weekly time frame that the market went to retest resistance area 0.68555, which was a support area for the past few months.
The market couldn't break it but instead it closed below and formed a BEARISH HARAMI pattern. Now with all that being said I'm expecting a bearish movement in the next coming weeks.