NZD/JPY Potential Upward Movement

NZD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 85.780, 86.323, 86.984

Key Support Levels: 85.032, 84.840, 84.445

4-Hour Chart:

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

15-Minute Chart:

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.

Signal Idea:

Buy Stop Order @ 85.317

TP 1 @ 85.700

TP 2 @ 86.080

Stop Loss @ 84.936

Trade Safely 🙂