NZD/JPY 4H - Bullish Reversal Setup NZD/JPY 4H Chart Analysis 📊🔥
Key Observations:
Market Structure:
The market has been in a downtrend but appears to be forming a potential reversal pattern.
A swing low (SH) has formed, indicating possible liquidity grab or accumulation.
Change of Character (CH) suggests a potential shift from bearish to bullish momentum.
Support & Demand Zone:
A demand zone (orange area) is highlighted around 82.92, which may act as a strong support level.
Price is expected to tap into this area before a potential bullish rally.
Upside Target 🎯:
If price respects the demand zone, we could see a bullish push towards the 88.29 resistance level.
The 200 EMA (red line) could act as a dynamic resistance along the way.
Trade Idea 💡:
Bullish Bias: Looking for long entries near 82.92 with targets around 88.00+.
Risk: If price breaks below the demand zone, further downside could be expected.
Conclusion:
📌 Watch for price reaction in the demand zone! If buyers step in, we could see a strong bullish move towards 88.00+. 🚀📈
