On the daily time frame the NZDJPY is near its lows. The uptrend is still intact hand has not been broken. The bulls have not shown itself to be decisive yet at the moment although we did see a reaction when the pair touched the bottom of the uptrend channel.

nzdjpyPrice is currently battling with 100 ema and it is still below that moving average seen in yellow on the chart. Stochastic is at its lows and seen to be pointing up, but again this is a secondary tool, we should focus on the price action of the currency pair.

I am neutral on this pair at the moment and looking for clearer signals to emerge before taking a trade.

~ Ardy

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