Weekly Chart Analysis: NZD/JPY Large Triangle Setup

• NZD/JPY continues to trade within a Large Channel
• High probability setup points to a possible move below the channel's lower boundary
• Failure analysis points to a move toward the channel's s upper boundary

Key Levels - Current Price: 79.69

Level   Type           Significance
87.09   Resistance   2005 High
82.48   Resistance   23.6 Fib of the 67.59-87.08 NZD rally
79.63   Resistance   38.2 Fib of the 67.59-87.08 NZD rally
77.33   Support        Channel's Lower boundary and 50.0 Fib of the 67.59-87.08 NZD rally
75.03   Support        61.8 Fib of the 67.59-87.08 NZD rally
71.76   Support        78.6 Fib of the 67.59-87.08 NZD rally
67.59   Support        2004 Low

Weekly Chart

Daily Chart I

Daily Chart II

Daily Chart III


Sam Shenker is a Technical Currency Analyst for FXCM.