NZDJPY Bullish ContinuationHello Everyone!
How are you all?
NZDJPY is a pair to watch this week, because it is shaping up very nicely for a bullish trend continuation that we can capitalize on.
So, I will be looking for a bullish continuation because of the following reasons:
1. The overall trend is bullish.
2. The price has formed a continuation structure and it is approaching the value area.
3. COT report shows that Nzd has 29,791 long positions and 22,586 short positions; Jpy has 40,427 long positions and 172,528 short positions.
Game Plan:
If the price comes to the VA, and rejects at that level or sweeps the Low, and makes a bullish impulse followed by a 15mins flag with two highs and lows.
Entry : will look for a risk buy entry within the flag or a reduced risk entry on the breakout of the flag.