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New Zealand Dollar vs Japanese Yen

NZD/JPY

Update 15/06/2015

As you might expect, this pair moves in commonality with NZDUSD so any phasing must tally with the other important cross for the Kiwi dollar. Both pairs, according to my phasing, experienced 18 month cycle lows back in late September/early October 2014. The main difference between the two is that NZDJPY is slightly more bullish having held above its 18 month low thus far. Here is the long term picture I am working from: NZDJPY_£__daily_15_06_2015

Possible resistance to this 40 week low could be the 20 week VTL running across the two most recent 80 day peaks but that remains to be seen. It would form a nice triangle if so and signal a move down into the next 18  month coming early 2016.

 

NZDJPY_£__daily_15_06_20152

Shorter term I was perhaps expecting price to come down to the 20 week VTL and bounce from there but the recent sell off has alerted me to a possible long (you have to be a contrarian to trade Hurst!). Phasing looks good for a move out of this low which is probably 40 week. Price should move up strongly or I will reassess.

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