Looking at the Norwegian Crone/Japanese Yen (NOKJPY) daily chart we can see that it has been ranging for a while after bouncing of our key price level at 12.250 a few months back and has been consolidating since then after failing to break above 12.880.
Now looking to the right we can see that NOKJPY just broke out of our current consolidation and if it manages to close below 12.600 I’ll be looking to hold my sells all the way down to 11.620 with my stops at 12.800.