Looking at NzdJpy, I am anticipating some more bullish momentum on this pair. On the 4H timeframe, we could see that price broke a major resistance level, and had a bullish impulse on the retest. We then found some major resistance and retraced back to the current support level.
If we scope down to the hourly timeframe, we could identify a bullish rejection wick right at the level. If we could get a bullish candle closure following this rejection wick, it would signal that there is some bullish sensitivity around this area, and buy orders wouldn't be a bad idea. I'm going to keep an eye on what price does following this rejecting wick.
If we scope down to the hourly timeframe, we could identify a bullish rejection wick right at the level. If we could get a bullish candle closure following this rejection wick, it would signal that there is some bullish sensitivity around this area, and buy orders wouldn't be a bad idea. I'm going to keep an eye on what price does following this rejecting wick.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.