NZDJPY
Price broke out of a downtrend last week breaking multiple resistance zones. I see two main potential scenarios for this pair.
First is we have failed to make the structure (Higher Low), so the price could break out of the 1HR rising trendline for the price to go down and form a new higher low.
Second is price seems to be very strong and is likely we can just go up from here to test the last highs.
First is we have failed to make the structure (Higher Low), so the price could break out of the 1HR rising trendline for the price to go down and form a new higher low.
Second is price seems to be very strong and is likely we can just go up from here to test the last highs.
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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.