NZDJPY: Trade Opportunities at the Support Zone

The price has been moving in the borders of the horizontal price channel for several months. Now we can expect a reversal from the support zone and it will give a possible buying opportunity. The exact trading signals we should search for using the hourly and minute timeframes.

If the price breaks the support zone formed by the bottom line of the price channel and SMA200, we will get a trade opportunity for shorting. It will be better to wait for a retest of the broken support zone and open short trades following the reversal signals.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.