NZD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 78.84, 79.52, 80.50
Key Support Levels: 77.95, 76.89, 75.60
The price on the higher time frame is trending upward inside a bullish channel. The pair posted a correction count toward the daily support around the 77.95 USD mark. This led to a move upward again in the same direction of the main trend.
NZD/JPY Medium-Term Trend: Bullish
On the 4-hr time frame, the pair succeeded to break the wedge formation to the upside where we expect a lower correction toward the support (previous resistance). This move could lead to a move upward toward the designated target profit.
Buy Limit Order @ 77.98
TP 1 @ 78.78
TP 2 @ 79.52
Stop Loss @ 77.57
Trade Safely 🙂
Im following this trade, got in @ 0.7799. So far this trade is 30+ pips in profit and ive moved my stop loss to jus above break even to allow for my brokers spread. Looking forward to closing out 1/2 of my position(0.01) at the recomended TP1 abd riding the rest to TP2. Thanks for this trade idea.