NZDJPY: Trend Following Setup Explained 🇳🇿🇯🇵

Long

New Zealand Dollar / Japanese Yen (OANDA:NZDJPY)

OANDA:NZDJPY New Zealand Dollar / Japanese Yen

flagpattern trendline parallelchannel nzdjpy priceaction priceactionanalysis priceactiontrading newzealanddollar nzd jpy forecast containsimage

NZDJPY is trading in a long term bullish trend.
The price broke and closed above a key daily resistance this week.

After a breakout, the price started a correctional movement within a bullish flag pattern on 4h time frame. Retesting the broken structure, the price bounced and violated the resistance of the flag.

It will most likely trigger a trend-following movement.

I expect a growth to 89.65

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NZDJPY: Trend Following Setup Explained 🇳🇿🇯🇵

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