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NZDJPY: Resistance turned support Determines the Pair's Strength

FX:NZDJPY   New Zealand Dollar / Japanese Yen
Hello traders,

NZDJPY five-month-old descending trend breakout executes the throwback formation from the resistance turned support. Meantime, the pair has a chance for a pullback from the zones 75.70-76.00, the pair should pass the immediate barriers 76.30 and the 76.85 to confirm the Uptrend Continuation. On the daily closings, If the trade managed to trade beyond the 76.85, the 77.50 & 77.90 are the likely numbers to appear on the chart.

On the Negative side, the pullback action from the 75.70-76.00 may negate the bullish formation and drag the price range to the bear zone this action could easily grab the number 74.20. Continuous Declining after the 74.20 lead the price range in the bear area and the 73.65, the 73.30 and the 72.80 have a chance to get highlighted.

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