NZD/JPY continues to rise after the recent breakout of the daily Pennant chart pattern that was previously identified by Autochartist – as you can see from the following trade opportunity alert for this currency pair. The pair is expected to rise to the target level 88.95 in the next 2 trading days. Autochartist set the stop-level for this forecast at 87.24. The breakout of this Pennant is aligned with the strong uptrend that can be seen on the daily NZD/JPY charts. The upward-sloping moving average and the Volatility Analysis shown on the second chart below both confirm this forecast.
As you can see from the following Volatility Analysis chart, the upper border of the daily Expected Price Range calculated for this currency pair (89.14) exceeds the target level given in the above trade opportunity alert (88.95) – which increases the probability the pair will continue to rise toward 88.95 tomorrow.