Support and resistance levels are the lost art of trading any market. In using support and resistance zones, I also use various MA's (Moving Averages) to assist me in finding the perfect entry. Now no trading strategy is completely waterproof. The market will act and react however it wants to, and a multitude of factors can drastically alter price action so take...
NZDJPY looking to bounce here at 74.1 for a short trade, looking for 30 pips with a 15 pip stop loss. Within the chart we can see consolidation and respect in this downward channel on the 15m chart. Watch this pair closely going into the holiday. Cheers