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NZD/JPY Potential Upward Movement

NZD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 85.33, 86.39, 86.98

Key Support Levels: 84.04, 82.80, 82.17

Daily Chart:

The price on the higher time frame has been in an uptrend for the last few months and recently it did a pullback. The pair found support at the trendline and bounced back. The resistance levels of 82.30 and 83.43 has been broken with good momentum.

NZD/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price broke a resistance level of 82.80 with good momentum and recently it has broken a minor level of 84.04 and retested that zone before continuing the momentum.

Signal Idea:

Buy Stop Order @ 84.62

TP 1 @ 85.29

TP 2 @ 86.30

Stop Loss @ 83.95

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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