NZD/JPY H1 Channel Breakout
Updated
The NZD/JPY pair on the H1 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 98.50, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 98.03
2nd Support – 97.80
Stop-Loss: To manage risk, place a stop-loss order above 98.90. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you
Key Points:
Sell Entry: Consider entering a short position around the current price of 98.50, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 98.03
2nd Support – 97.80
Stop-Loss: To manage risk, place a stop-loss order above 98.90. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you
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