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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 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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