NZDJPY - can we catch a bullish run?
The daily has crossed the 20/50/100 moving averages, and if it closes as a bullish engulfing candlestick in the next 8 hours, this would be a strong higher time frame indication suggesting NZD bullish power. The 4-hour candlestick closure, crossed all the moving averages and broke past a recent area of resistance. We might expect a pullback towards the area of sensitivity or MAs. Bear in mind we have a psychological level @86.000 if that's broken-potential move up. Both currencies are being sold off, so the trade might be a slow burner. Later today we have JPY unemployment rate news.
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