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.
Buy Limit Order @ 81.425
TP 1 @ 81.858
TP 2 @ 82.237
Stop Loss @ 81.209
Trade Safely 🙂