FX:NZDJPY   New Zealand Dollar / Japanese Yen
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!

🟢Forex Pair:

Technical Analysis:
On the 18th of January 2021, the price bounced on its wedge's trendline, getting a strong bullish impulse.
Once it broke the daily S/R zone at about 74.500 and re-tested the dynamic trendline, the price moved up until its wedge dynamic resistance line.
It is currently re-testing the same level and the next price action will be essetial to understand the next market movement.

In the h4 and daily perspective, the price is clearly following a constant uptrend and it has currently reached the dynamic resistance of its wedge pattern, I'm confident to see an upcoming trend correction until its support zone at about 74.600.
I'll be waiting for a proper rejection on the current level before planning my short position on this trade.
A possible entry point on this trade could be the level at about 75.450 (place an alert and keep this pair in your watchlist!).

Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!

⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,

Related Ideas


Really possible, cheers
+1 Reply
FXtrades-gp Investroy
@Investroy, thanks guys!
Nice and clear, thank you for sharing!
+1 Reply
FXtrades-gp KlejdiCuni
@KlejdiCuni, thanks for ur feedback! :)
thnx for sharing ... here is my point of view
+1 Reply
FXtrades-gp MMFXSignals
@MMFXSignals absolutely interesting 👌
Good job here, Same scenario
+1 Reply
FXtrades-gp Samoburger
@Samoburger many thanks guys ! 😁
Good job
+1 Reply
FXtrades-gp Babenski
@Babenski, appreciate! thanks !
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter