NZD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 85.780, 86.323, 86.984
Key Support Levels: 85.032, 84.840, 84.445
The price on the higher time frame has been in an uptrend for a few weeks and recently it did a pullback and the pair found support at the 84.397 level. It has bounced back after testing that level and has broken a resistance level of 85.152 with good momentum.
NZD/JPY Medium-Term Trend: Bullish
On the lower time frame, the pair is moving in the major trend’s direction. The price consolidated for some time in a range of 85.032 and 84.840 and as of now it has broken and retested the upper range before continuing the momentum.
Buy Stop Order @ 85.317
TP 1 @ 85.700
TP 2 @ 86.080
Stop Loss @ 84.936
Trade Safely 🙂