NZDJPY: reached a resistant point
The price started to rise on August 20th. As we can see, it bounced after a support point. So, how long will this upward trend last?
The pressure of the latest support point seems strong, it has pushed the price to go up, it even touched the upper band of the Bollinger Bands.
Even if the upward trend has lasted for a long time, it still has a comparatively low volume. That’s because the people do not trust the price.
The RSI seems to go down, that’s a signal for me that the price may go down. But the MACD is still in a bullish trend, however, we know that MACD is a lagging indicator.
The price could go down in the near future.
The pressure of the latest support point seems strong, it has pushed the price to go up, it even touched the upper band of the Bollinger Bands.
Even if the upward trend has lasted for a long time, it still has a comparatively low volume. That’s because the people do not trust the price.
The RSI seems to go down, that’s a signal for me that the price may go down. But the MACD is still in a bullish trend, however, we know that MACD is a lagging indicator.
The price could go down in the near future.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.