NZD/JPY Signal- Nov. 12, 2012



Currency: NZD/JPY
Trend Expected Direction: Up
Method: Ichimoku, Technical Analysis
Description: NZD/JPY has been running in an ascending channel since July. The pair formed a hammer after it touched the bottom of the trend line. We also see that Ichimoku cloud is also supporting the pair. I expect NZD/JPY to continue its bullish trend and head towards the top of the channel.
Recommendation: Long
Target Area: 66.30 & 67.15
Stop-Loss: 64.84

NZDJPY Signal 111212

Alp Kocak has been trading Forex since 2003. He writes technical analysis based on Japanese candlesticks and Ichimoku Kinko Hyo.