NZD/USD 4-hour: Broke below the 38% Fibonacci level.
Invest Diva positioning: Short positions below 0.7447 with targets at 0.7343 and 0.7175 in extension.
Technical reasons why: The pair broke below the 38% Fibonacci level and is still moving down towards our bearish target at 23% Fibonacci level below the Ichimoku’s cloud. The RSI is at over-sold zone.
Alternative Scenario: Above 0.7447 look for further upside with 0.7532 and 0.7600.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7346 | 0.7447 | 0.7600 |
| 0.7175 | 0.7532 |
USD/JPY 4-hour: Reached the target.
Invest Diva positioning: Long positions above 120.88 with targets at 121.27 and 121.60 in extension.
Technical reasons why: The pair surpassed the previous high and reached our bullish target at 120.88 above the Ichimoku’s cloud. The RSI is above the neutrality area.
Alternative Scenario: Below 120.88 look for further downside with 120.44 and 119.78.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 120.44 | 120.88 | 121.60 |
| 119.78 | 121.27 |
#1 Best Selling Author. Helping you accelerate your retirement with Triple Compounding™ Former engineer on a mission to help 1 million households take control of their finances. Founder & CEO of Invest Diva.
