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NZD/JPY Potential Upward Movement

NZD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 85.52, 86.33, 86.74

Key Support Levels: 84.29, 83.97, 83.30

Daily Chart:

The price on the higher time frame has been in an uptrend for months and it showed a good bullish run. Recently the pair has been in a consolidation zone after the move and has found support at the 82.30 level. It has bounced after touching this level and sustaining above a minor level of 83.43

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 consolidated between a range of 83.30 and 83.97 for some time and has broken the upper range now. It has broken and retested another minor level of 84.29 before continuing the momentum.  

Signal Idea:

Buy Stop Order @ 84.78

TP 1 @ 85.41

TP 2 @ 86.67

Stop Loss @ 84.15

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.

2 comments

  1. this trade hit stop loss after news come on wednesday went up after hitting the stop loss but you guys claim that this trade hit tp I really don’t understand yes it went up but after hitting stop lose If I could send a screenshot from here, I would show it to you.

    • There is a screenshot attached with the TP post Ezra and you can see the SL was not breached during the news hour. The pair made a low of 84.27 and our SL was 84.15
      Hope this clears it.

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