Nzdjpysignal
NZDJPY LONGThe Price didn't made a lower low violation of market structure. Price currently sitting support level or neckline for a double bottom . Base on the daily & weekly candle the next candle must open to the upside. The Stop loss is protected by previous low and trend line also S/R level . Price broke the trend or trendline signaling for a reversal . Market structure shows a double bottom pattern signaling to the upside. Multiple confluence for a signal going to the a upside
Start the uptrend
Description
As you can see, it is between support and resistance and has formed an ascending channel to touch the resistance and is currently at the bottom of the ascending channel.
If we take a closer look, it has broken a bearish wedge, which is also a sign of rising prices, and is expected to touch its resistance in the next few days.
In an ascending channel
Description
As you can see, it is in an ascending channel and by hitting the bottom of the canal, it provides the possibility of re-ascending to the ceiling of the Channel. Can be seen
We have to wait to see if we will climb after hitting the bottom of the channel Or losing the trend line.
NZD/JPY BUY IDEAHey tradomanics,
the previous consolidation seems to be done as JPY could show more weakness due to rising yields.
The structure and volume for NZD/JPY looks pretty bullish to me and I`d look for a breakout above the current correction in order to follow the primary trend.
A flat-type-correction is always a good sign for accumulation and could soon cause bullish momentum! A risk-on-sentiment is btw. often good for NZD as a high-yield-currency!
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Peace and good trades
Irasor
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NZDJPY BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis for this pair.
Watch strong action at the current levels for BUY GOOD LUCK! Great BUY opportunity NZDJPY .
I still did my best and this is the most likely count for me at the moment.
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