NZD/USD 4-hour: Moving down towards the previous bottom.
Invest Diva positioning: Short positions below 0.7343 with targets at 0.7175 and 0.6970 in extension.
Technical reasons why: The pair broke below the key support level at the 23% Fibonacci level and is moving down towards the previous bottom below the Ichimoku’s cloud. The RSI is at the over-sold zone.
Alternative Scenario: Above 0.7343 look for further upside with 0.7447 and 0.7532.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7175 | 0.7343 | 0.7532 |
| 0.6970 | 0.7447 |
USD/JPY 4-hour: Moving above the 23% Fibonacci level.
Invest Diva positioning: Long positions above 121.12 with targets at 122.00 and 122.80 in extension.
Technical reasons why: The pair is moving up above the 23% Fibonacci level at 121.12 above the Ichimoku’s cloud. The RSI keeps above the neutrality area.
Alternative Scenario: Below 121.12 look for further downside with 120.57 and 120.13.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 120.57 | 121.12 | 122.00 |
| 120.12 | 122.80 |
#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.
