Breaking News

NZD/JPY Potential Upward Movement

NZD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 78.61, 79.14, 79.50

Key Support Levels: 77.95, 77.40, 76.89

Daily Chart:

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

4-hour Chart:

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.

Signal Idea:

Buy Limit Order @ 77.97

TP 1 @ 78.61

TP 2 @ 79.14

Stop Loss @ 77.66

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!

Free Robot!