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SmithTradeSmart
Apr 13, 2020 12:58 PM

NZDJPY - Ascending Triangle Break-down Sell Opportunity| 1:2 R/R Short

New Zealand Dollar/Japanese YenFXCM

Description

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📢NZDJPY 4H - Technical Breakdown

📈Price levels have been respecting the ascending support over the last 3 weeks. The current market price appears to be losing momentum as it tests the overhead resistance at 65.950 for the third time.

📊A break to the down-side breaching the ascending support will present a good risk to reward sell opportunity entering when price levels breach the 50 EMA @ 65.100 for confirmation and looking to take profit around the 63.300 support region just passed the POC (Point of Control) for the visible trading range at 63.811.
Comments
Dave-FX-Hunter
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good analysis, keep it up
transparent-fx
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I have it on watchlist as well, my MTA
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