Let's take a look at the NZD/JPY hourly chart.

A key price to watch for is the high from May 31 (67.40). In the shorter term, look for a potential move up to test this high. We may see a test up to the 68.00 mark as well, however, the upward movement seems to be losing its push so once the upward movement completes, look for a potential move down to the 65.00 area and below.

Looking at the daily chart, we may be forming an Ending Diagonal. The above shorter term analysis would seem to fit pretty well with this longer term analysis - however, it is still too early to tell.

Good luck with trading and be sure to use your money management as well as your stops.


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