FX.co ★ NZD/JPY

The decline in the NZD/JPY pair continued last week, and as a result of this decline, we were able to easily break through the local support level in the area around 93.100. Throughout this action, volumes gradually increased and remained at sufficiently high levels, indicating further entries of large bears into positions, which in turn opens up good prospects for further decline. Overall, I still prioritize selling, so I will be expecting further strengthening of the Japanese yen and a decline towards the targets at the nearest calculated support level of 92.200 for the NZD/JPY pair in the upcoming trading week.