Hi Traders!
There is a rising wedge pattern on NZDJPY, which signals a possible reversal of the bullish trend we have seen over the past few months.
Price Action 📊
There was an aggressive upside price rejection candle followed by a momentum break below the 20 EMA. This shows that there may be new waves of bearish volume entering the market.
We are looking for a bearish break and a close below the support trendline.
Fundamental Analysis 📰
New Zealand left their interest rates unchanged, and the dovish statement from the RNBZ has left the NZD under some selling pressure.
Support 📉
87.094: PREVIOUS DAY'S LOW
Resistance 📈
89.251: PEVIOUS DAY'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
There is a rising wedge pattern on NZDJPY, which signals a possible reversal of the bullish trend we have seen over the past few months.
Price Action 📊
There was an aggressive upside price rejection candle followed by a momentum break below the 20 EMA. This shows that there may be new waves of bearish volume entering the market.
We are looking for a bearish break and a close below the support trendline.
Fundamental Analysis 📰
New Zealand left their interest rates unchanged, and the dovish statement from the RNBZ has left the NZD under some selling pressure.
Support 📉
87.094: PREVIOUS DAY'S LOW
Resistance 📈
89.251: PEVIOUS DAY'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
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t.me/bluetonaFX
t.me/bluetonaFX
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.
JOIN OUR FREE TELEGRAM CHANNEL
t.me/bluetonaFX
t.me/bluetonaFX
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.