After breaking above a descending trendline, NZDJPY has established an upward momentum supported by the ascending trendline. This pullback near the support level offers a favorable risk-reward setup for a long position. The price is currently testing the support, suggesting a potential continuation to the upside.
Entry: Around 86.14
Stop Loss (SL): 85.20 (below recent support and trendline)
Take Profit (TP): 89.15 (near previous resistance level)
This setup provides a solid upside potential with a controlled risk zone. Monitor price action for confirmation before entry.
Entry: Around 86.14
Stop Loss (SL): 85.20 (below recent support and trendline)
Take Profit (TP): 89.15 (near previous resistance level)
This setup provides a solid upside potential with a controlled risk zone. Monitor price action for confirmation before entry.
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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.
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.