Currency Talk – EUR/JPY, NZD/USD and GBP/JPY

The Overbalance analysis aims to identify three financial instruments, analysed mainly on a daily/four-hourly (D1/H4) interval. The analysis uses only the Overbalance methodology, which allows us to determine where the trend may continue or where it may change.
Today’s analysis covers three instruments, assessed solely in terms of the 1:1 correction structure.

EURJPY
EURJPY quotes have been moving in an upward trend for almost a year. The latest correction reached key support at 180.85, which results from the lower limit of the 1:1 pattern, as mentioned in previous analyses. After rebounding from this level, an upward movement began, which is clearly accelerating today. According to the Overbalance methodology, as long as support remains intact, the baseline scenario is for the uptrend to continue, and a test of recent highs cannot be ruled out.

EURJPY – H4 interval. Source: xStation5

NZDUSD
NZDUSD quotes remain in local consolidation, but key support is still at 0.5950, where the lower limit of the broad 1:1 pattern falls. Resistance, on the other hand, is set at 0.5979, resulting from the upper limit of the local 1:1 downward pattern. In the current situation, it is necessary to wait for a breakout in one direction, which may set the direction for a larger trend movement.

NZDUSD – H4 interval. Source: xStation5

GBPJPY
GBPJPY quotes have been moving in an upward trend for a long time, but at the beginning of February, the broad 1:1 upward geometry was negated, which could suggest a deeper correction. However, the declines were not significantly developed, and the price quickly returned to growth. Currently, we are observing an attempt to break above the key resistance. The 209.90-210.12 zone is significant because it is both the polarity of the negated 1:1 pattern and the upper limit of the local 1:1 downward pattern. If the price remains above this zone, it will signal a return to the upward trend in accordance with the Overbalance methodology.

GBPJPY – H4 interval. Source: xStation5

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