Breaking News

NZD/JPY Potential Upward Movement

NZD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 79.145, 80.135, 80.140.

Key Support Levels: 78.113, 76.252, 76.200.

Daily Chart:

The price on the higher time frame is in a clear upward movement where a series of higher highs and lows has been posted. As we can see from the screenshot the market is about to close a pullback or correction (White Rectangle) and continue to the upside with a new impulsive wave.

NZD/JPY Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the price succeeded to break the bearish channel to the upside with the help of big bodied bullish bars. A lower correction could be seen to the highlighted zone before a new impulsive wave to the upside toward the target profit.

Signal Idea:

Buy Limit Order @ 78.133

TP 1 @ 79.130

TP 2 @ 80.135

Stop Loss @ 77.887

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Your email address will not be published.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!