NZD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 78.61, 79.14, 79.50
Key Support Levels: 77.95, 77.40, 76.89
The price on the higher time frame was in a clear uptrend where the market is posting higher highs and lows. The pair posted a correction count to the 77.95 USD mark. Currently, the price is traded above this level and we expect a rally soon.
NZD/JPY Medium-Term Trend: Bullish
On the 4-hr time frame, the price is trading inside a bullish flag where the price found buyers around the 61.80% Fibonacci retracement. A slight move to the downside might be seen, and a double bottom will be formed which will lead to a reversal and a move upward in the same direction of the main trend.
Buy Limit Order @ 77.97
TP 1 @ 78.61
TP 2 @ 79.14
Stop Loss @ 77.66
Trade Safely 🙂