NZD/JPY: Support Amid Bullish Outlook
Hello Everyone,
Despite the recent decline in NZD/JPY, higher timeframes ranging from 1 day to 1 year continue to indicate a favorable stance for a buy position. However, it's important to exercise caution at this juncture as the price is currently below the monthly, weekly, and daily pivot points, which have recently acted as resistance levels. Presently, the weekly support level is being tested, with a robust support zone identified at 90.421 on the weekly timeframe, aligning well with monthly supports at 90.896, 90.512, and 90.128, and a strong monthly support noted at 88.975. Should the support around 90 falter, the full monthly support could be tested. Nevertheless, the bullish outlook remains intact.
TradeWithTheTrend3344
Despite the recent decline in NZD/JPY, higher timeframes ranging from 1 day to 1 year continue to indicate a favorable stance for a buy position. However, it's important to exercise caution at this juncture as the price is currently below the monthly, weekly, and daily pivot points, which have recently acted as resistance levels. Presently, the weekly support level is being tested, with a robust support zone identified at 90.421 on the weekly timeframe, aligning well with monthly supports at 90.896, 90.512, and 90.128, and a strong monthly support noted at 88.975. Should the support around 90 falter, the full monthly support could be tested. Nevertheless, the bullish outlook remains intact.
TradeWithTheTrend3344