NZDJPY is forming a false break of the range support and within the reversal pattern confirms the break of the bearish structureThe fundamental background has been extremely unstable lately and depends on any harsh statements of politicians, mainly related to the trade war.
But, technically, the pair is returning to the range on the background of local market recovery. A false breakdown of the range support is formed.
The break of the bearish structure, the formation of the reversal pattern and the return to the trading range give chances for strengthening of the price. If the bulls hold the defense above 83.7 - 84.2, the currency pair may strengthen to 85.15 - 87.4
Resistance levels: 84.196, 86.15
Support levels: 83.79, 83.31, 82.21
Consolidation above the key support zone may allow the bulls to strengthen the price to the local zone of interest. Global trend is neutral, local trend is upward.
Regards R. Linda!
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🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
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.