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NZD/JPY Potential Upward Movement

NZD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 78.955, 79.252, 79.475.

Key Support Levels: 78.610, 78.447, 78.359.

1-Hr Time Frame:

The price on the higher time frame is in a clear upward movement where the market is traded inside a bullish channel formation. The pair is correction to the highlighted support where after it a new bullish impulsive wave could be seen.

NZD/JPY Medium-Term Trend: Bullish

5-Mins Time Frame:

On the lower time frame, the price succeeded to break the bullish flag formation to the upside after finding buyers near the support level. A lower correction could be seen before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 78.619

TP 1 @ 78.910

TP 2 @ 79.252

Stop Loss @ 78.499

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.

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