Currently, NZD/JPY is trading at 64.03. The pair started a downtrend on 14 April and it’s about to touch its support zone . It is possible that after touching its support zone the price may rebound back from there. If the price breaks 64.09 level after rebounding from support zone , it may enter into a new uptrend and then its next resistance level at 65.07 will be its first target.

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Rishikesh Lilawat

Rishikesh Lilawat
Rishikesh Lilawat

Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.