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Jun 06 - 01:24 PM
NZD/JPY: Bullish Monthly Hammer Couple With Bullish Weekly Hammer Targeting 80.20 - NAB
First appeared on eFXplus on Jun 06 - 11:20 AM

NAB discusses NZD/JPY technical outlook and flags a strong bullish setup on monthly and weekly charts targeting an initial move to 80.20.

"May produced a bullish monthly candle pattern (hammer) confirming a strong positive shift."

"Bullish weekly candle pattern (hammer) produced  last week after the lower weekly Bollinger band was tested and held at 74.74. 

Immediate target at the 2015/2018 downtrend line around 80.20. The break of 80.20 would imply that price can test the multi-year triple top at 83/84 on a multi-month basis," NAB argues. 

Source:
NAB Research/Market Commentary

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