{"id":9084,"date":"2010-05-04T09:43:42","date_gmt":"2010-05-04T13:43:42","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9084"},"modified":"2010-05-04T09:43:42","modified_gmt":"2010-05-04T13:43:42","slug":"nzdjpy-forecasted-to-move-into-bearish-cycle","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/04\/nzdjpy-forecasted-to-move-into-bearish-cycle\/","title":{"rendered":"NZD\/JPY Forecasted to Move into Bearish Cycle"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong> &#8211; After a prolonged upward trend, NZD\/JPY may be poised for a downward  correction. This analysis is based on a number of technical indicators,  which show that the pair is currently in overbought territory.<\/p>\n<p>For this analysis, we will be using the  ForexYard daily chart for NZD\/JPY.  The technical indicators used are  the Bollinger Bands, Relative Strength Index (RSI) and Stochastic Slow.<\/p>\n<p>1. As seen in the chart provided, the price ticks are currently  trading right on the upper Bollinger Band.  Traders can take this as a  clear indication that the pair is approaching overbought territory,  meaning a downward correction is probable.<\/p>\n<p>2. The RSI clearly shows the pair well above the upper resistance  line, and has been there for some time.  Not only does this show that  the pair is overbought, but it also tells us that it has been trading at  this level for an extended period.  Traders can take this as a sign  that prices may drop soon.<\/p>\n<p>3. The Stochastic Slow shows a bullish cross forming just above the  upper resistance line.  This is further corroborates that the pair has  finished its upward movement, indicating that it may be a good time for  traders to enter into sell positions.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/05\/nzdjpy-4.5.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/05\/nzdjpy-4.5.bmp\" alt=\"\" width=\"558\" height=\"555\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex                             Yard.<\/strong><\/a><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                             may not be suitable for all investors. There    is  a              possibility      that     you   could sustain a  loss   of  all   of    your         investment and      therefore  you        should   not    invest   money  that   you      cannot afford to         lose. You    should    be      aware of   all   the    risks      associated with     Foreign      Exchange    trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Dan Eduard &#8211; After a prolonged upward trend, NZD\/JPY may be poised for a downward correction. This analysis is based on a number of technical indicators, which show that the pair is currently in overbought territory. For this analysis, we will be using the ForexYard daily chart for NZD\/JPY. The technical indicators used are &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/05\/04\/nzdjpy-forecasted-to-move-into-bearish-cycle\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;NZD\/JPY Forecasted to Move into Bearish Cycle&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-9084","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=9084"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9084\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}