Long

NZDJPY Bullish after successful rebound.

It has been a month exactly since we made this break-out signal on the NZDJPY pair:

NZDJPY Those are its buy and sell break-out signals.

The price has made a successful rebound at the bottom (Higher Lows trend-line) of the Bullish Megaphone pattern. As mentioned our buy break-out signal was when the pair closed a 1D candle above the Lower Highs trend-line. That coincided with a closing above the 1D MA50 (blue trend-line) for the first time since August 02.

Our first target remains 89.700 but we now set a second target as the peak of this run on the Fibonacci 2.0 extension at 91.350.

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