NZDJPY: High upside potential.
The NZDJPY pair is on a neutral technical price action on the 1D time frame (RSI = 51.078, MACD = -0.120, ADX = 32.313) as it reached the 0.5 Fibonacci level and 1D MA50 yesterday. This is the middle level of the long-term trading range inside the S1 and R1 Zones since April 20th 2022. So essentially this pair has been trading sideways for almost 1 year.
Since the price recently rebounded (March 24th) at the top of the S1 Zone, we take this as a solid buy opportunity to target Fibonacci 0.786 (TP = 86.300).
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Since the price recently rebounded (March 24th) at the top of the S1 Zone, we take this as a solid buy opportunity to target Fibonacci 0.786 (TP = 86.300).
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## Comments and likes are greatly appreciated. ##
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Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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