Currently, NZD/JPY is trading at 70.24. The pair is consolidating in the ascending triangle
resistance and support wedges
. The pair may start a new up trend if it breaks the resistance level
at 70.43 and it is possible that the pair may continue its consolidation between resistance and support wedges
. If the pair starts a new up trend after breaking the resistance level
, then its first target price will be at 71.16 and the second target price will be at 71.61.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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