looking at daily chart an ascending triangle is formed from mid June and it may be at the end of downtrend from recent 10k peak, this is a bullish reversal pattern.
ref:
tradingview.com/chart/NZDJPY/ej9xL7m5-ASCENDING-TRIANGLE-TREND-REVERSAL/
stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:ascending_triangle_continuation
note:
1-to have the pattern complete this is conditional to price action whether holds 6128 support level at the moment.
2-if this holds then inv. h&s in progress have the chance to complete its right shoulder too.
3-otherwise next stop will be around 5900 for now.
I will update this post.
**If the post is interesting to you click the "like" !
please take a look at my related idea below too.
ref:
tradingview.com/chart/NZDJPY/ej9xL7m5-ASCENDING-TRIANGLE-TREND-REVERSAL/
stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:ascending_triangle_continuation
note:
1-to have the pattern complete this is conditional to price action whether holds 6128 support level at the moment.
2-if this holds then inv. h&s in progress have the chance to complete its right shoulder too.
3-otherwise next stop will be around 5900 for now.
I will update this post.
**If the post is interesting to you click the "like" !
please take a look at my related idea below too.
Comment:
if the pattern be complete and successful the target will be 7700
