Weekly Chart Analysis: NZD/JPY Large Channel Setup

• NZD/JPY continues to trade within a Large Channel
• High probability setup points to a possible move toward  the Channel’s lower boundary
• Failure analysis points to a move toward the psychologically important 85.00 figure

Key Levels - Current Price: 81.81

Level    Type          Significance 
82.02     Resistance  Multi-Year High
78.56     Support       23.6 Fib of the 67.59-82.02 NZD rally
76.47     Support       Channel’s lower boundary and 38.2 Fib of the 67.59-82.02 NZD rally
74.77     Support       50.0 Fib of the 67.59-82.02 NZD rally
73.07     Support       61.8 Fib of the 67.59-82.02 NZD rally
 
Weekly Chart 11-18-05

Daily Chart I 11-18-05

Daily Chart II 11-18-05

Daily Chart III 11-18-05

Sam Shenker is a Technical Currency Analyst for FXCM.