NZD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 88.40, 88.98, 89.24
Key Support Levels: 87.36, 87.11, 86.71
The price on the higher time frame has reversed the direction after finding support around the 81.00 level. It was trading in a range for some time and has now broken the upper range. The price has also broken a minor level of 86.65 which shows signs of bullish trend.
NZD/JPY Medium-Term Trend: Bullish
On the lower time frame, the pair is moving in the major trend’s direction. It consolidated for some time between 86.33 and 87.11 and sustained above that. It has now also broken and retested a minor level of 87.36 before continuing the momentum.
Buy Stop Order @ 87.76
TP 1 @ 88.29
TP 2 @ 89.09
Stop Loss @ 87.23
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