💱 NZDJPY - Retest of the uptrend support. Appearance of H&S
NZDJPY forms consolidation above the key liquidity area and above the upward channel support. Most likely, we should wait for a rebound from the support with the continuation of growth.
TA on the high timeframe:
1) The moving averages support the price and an uptrend is forming
2) The price forms reversal set-ups in candlestick medians.
TA on a low timeframe:
1) Support retest is formed (presumably, a right shoulder can form, which will end the pattern)
2) Breakout of local resistance (descending dotted line), may form an impulse. In this case the price will continue to exist within the ascending channel
Key support: 84.698
Key resistance: 85.264 and 86.134.
TA on the high timeframe:
1) The moving averages support the price and an uptrend is forming
2) The price forms reversal set-ups in candlestick medians.
TA on a low timeframe:
1) Support retest is formed (presumably, a right shoulder can form, which will end the pattern)
2) Breakout of local resistance (descending dotted line), may form an impulse. In this case the price will continue to exist within the ascending channel
Key support: 84.698
Key resistance: 85.264 and 86.134.
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