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NZD/JPY Potential Upward Movement

NZD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 81.870, 82.237, 82.500.

Key Support Levels: 81.414, 81.274. 81.200.

1 Hr Chart:

The price on the higher time frame failed to break the strong support level around the 81.419 JPY mark which led to a reversal and a move higher where a fakeout has been left behind. The market is expected to move higher in the coming hour to continue upward in the same direction of the main trend.

NZD/JPY Medium-Term Trend: Bullish

15 Mins Chart:

On the lower time frame, the pair is traded inside a bullish channel where higher lows and highs has been posted showing that the market is in a clear control of the market. A lower correction could be seen to the support area before a new impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 81.425

TP 1 @ 81.858

TP 2 @ 82.237

Stop Loss @ 81.209

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.

One comment

  1. Hi sir.
    Your trlegram is NZDUSD.
    but here its NzDJPY

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