IF YOU GUYS HAVE BEEN FOLLOWING MY POSTS, YOU WILL HAVE NOTICED THAT PRICE IS REACHING A MAJOR SUPPORT LEVEL ON THE DAILY. THE PSYCHOLOGICAL LEVEL OF 1.0800 HELD A STRONG SUPPORT 3 TIMES IN THE PAST (ONCE IN JUNE, ONCE IN JULY, ONCE IN AUGUST) ON THIS CHART. i HAVE INCLUDED MINOR AREAS WHERE I WOULD BE LOOKING FOR LONG/SHORT ENTRY'S, BUT I WILL ULTIMATELY BE...
Technical analysis on the chart explains it all. NZDJPY has reached a strong resistance level and still has another leg of drop to complete the Gartley pattern before looking for a counter. I will be entering based off of price action as I will be looking for a strong bearish candle setup as extra confluence.
This is a continuation to the current uptrend. First Target (0.76955 area) Second Target (0.90265 area)
A double bottom has formed on the daily, followed by a strong move up completing leg #1 of the 3 level rise. Take profit target is projected around the 148.00-150.00 area. Trend-lines are one of the most powerful tools in a traders arsenal.
This pair is now bullish with upside targets (each line in the sand).
Looking at demand area below (around 1.52587 order block).