| Global Interest Rates | |||
 Australia |
7.25% | ||
 Canada |
3.5% | ||
 EMU |
4% | ||
 Japan |
0.5% | ||
 Swiss |
2.75% | ||
 England |
5% | ||
 US |
2.25% | ||
Technicals
Chart of the Day - 5/09/2008 - NZD/JPY
(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; downtrend lines in red; chart pattern in yellow; 50-period simple moving average in light blue.)
5/09/2008 NZD/JPY After breaking down below a rather well-defined inverted pennant formation on the NZD/JPY daily chart, as shown, price action has just approached a significant long-term uptrend support line. This uptrend line is represented on the chart by the long, green line. With at least four separate touches with reversals since mid-2006, this line represents a significant dynamic support level. Another bounce up off this line, which is the current directional bias, should target resistance at the underside of the broken inverted pennant. A breakdown below the trendline, on the other hand, should target an important support/resistance level in the 75.00 region.
James Chen
Chief Technical Analyst
FX Solutions
IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
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