NZD/JPY Range and Trend Setup
Can’t decide whether you’re a range or trend playa? Be both this week!
NZD/JPY just popped up a long-legged doji right as it hit a range support that’s been around since the start of the year AND a trend line support that hasn’t been broken since May 2020.
The cherry on top of this sweet setup is the 200 SMA chillin’ around NZD/JPY’s current levels.
A bounce from the 75.50 – 76.00 zone could lead to a retest of the 79.00 or 80.00 previous highs.
A clear downside breakout, on the other hand, could mean that NZD/JPY is ditching its year (plus a few months)-long uptrend.
NZD/JPY just popped up a long-legged doji right as it hit a range support that’s been around since the start of the year AND a trend line support that hasn’t been broken since May 2020.
The cherry on top of this sweet setup is the 200 SMA chillin’ around NZD/JPY’s current levels.
A bounce from the 75.50 – 76.00 zone could lead to a retest of the 79.00 or 80.00 previous highs.
A clear downside breakout, on the other hand, could mean that NZD/JPY is ditching its year (plus a few months)-long uptrend.
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.