NZDJPY is all set to continue its upward movement!
Updated
The price is moving within an ascending channel and has just hit the lower limit again, bouncing back up and forming a bullish candlestick with a long lower wick and a small body. This suggests that sellers have made another unsuccessful try to change the trend, even creating a higher low that backs up the uptrend. The price is also bouncing off the 50% Fibonacci retracement level. NZDJPY is moving towards the major volume activity price range around 90.5. On top of that, volume analysis backs this up, indicating that buyers are getting stronger and ready to push the price up.
Time Frame: daily
Idea support:
- Price action
- Volume Analysis
- Trend analysis
Time Frame: daily
Idea support:
- Price action
- Volume Analysis
- Trend analysis
Trade active
Price: 88.25
TP: 90.54
SL: 86.76
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