Technical Overview of USD/JPY, CAD/JPY & NZD/JPY: 29.03.2018

Anil Panchal
Technical Overview of USD/JPY, CAD/JPY & NZD/JPY: 29.03.2018
Japanese ten thousand yen banknote


USDJPY’s recent pullback from resistance-turned-support indicate brighter chances for the pair’s extended recovery towards the 107.00 and then to the 107.30 immediate resistances; however, its following advances have to conquer the 107.85-90 horizontal-line in order to aim for the 108.40 and the 108.80 north-side numbers. Alternatively, pair’s dip below 106.40 support-line may drag it to 106.00 before highlighting the 105.80 ascending TL. Should prices continue declining after 105.80, the 105.30, the 105.10 and the 104.60 are likely consecutive rests that can be availed while being short.


Even if short-term ascending trend-channel favors the CADJPY’s gradual upside, resistance-line of the channel, at 82.90 now, could trigger the pair’s U-turn towards 82.30 and to the 82.00. If the quote stretches its correction beneath the 82.00, the 81.60 and the 81.25, comprising channel-support, gain sellers’ attention whereas break of 81.25 may fetch the pair to 80.80 and 80.50 supports. Meanwhile, pair’s successful trading beyond 82.90 can activate its rise to 83.50 ahead of confronting the 83.75-80 horizontal-line. Given the pair’s ability to surpass the 83.80 mark, the 84.45, the 84.80 and the 85.25 can please the buyers.


Notwithstanding the NZDJPY’s reversal from 77.05-10 nearby resistance-region, the pair is still trading above immediate TL support, at 76.55, which in-turn backs its another attempt to challenge the 77.05-10 area. If the pair manages to break 77.10, the 77.55 and the 78.00, encompassing two downward slanting trend-lines, seem crucial to watch, which if broken could escalate its north-run to the 78.30, the 78.60 and the 79.00 resistances. On the downside, break of 76.55 may reprint 76.40 and the 76.00 on the chart while its further drop below 76.00 can have 75.70, the 75.50 and the 61.8% FE level of 75.25 as supports.

Cheers and Safe Trading,
Anil Panchal

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Top Promotions

Top Brokers

The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.