NZDJPY Sideways with new High towards the end of the year.

The NZDJPY pair almost hit its yearly High two days ago and this 2 day rejection illustrates that this was the medium-term top. As noted in our last analysis, this is roughly replicting the March – September 2021 sequence, where the pair gave two solid sell and two buy opportunities before making a new High. Right now the price should pull-back on the medium-term towards the 1D MA100 (green trend-line) after the 1D MA200 (orange trend-line) was tested and held on the last Low. By the end of the year we should have a Higher High within this Fibonacci Channel.

Tradingview link:

https://www.tradingview.com/chart/NZDJPY/1OIwXHhU-NZDJPY-Sideways-with-new-High-towards-the-end-of-the-year