NZD/JPY Idea
Had this one mapped out for a while. Although we're in a range-bound market at the moment, which can be seen from the monthly point of view, I'm anticipating a move towards the blue line for Target 1, which can possibly result in a push past the trend line, a retest, and a further move ahead towards the 1.272 extension. Reasons for entry into the market was a clear rejection off of the 61.8 fib followed by other confluences. If this pair completely rejects the blue line then I will remain on the sidelines..
Note - I have posted a trade long for CAD/JPY before, but I'm still hesitant in seeing the New Zealand Dollar being stronger than the Yen..
Note - I have posted a trade long for CAD/JPY before, but I'm still hesitant in seeing the New Zealand Dollar being stronger than the Yen..
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