-NZD/JPY has recently broken down the pennant with a retracement.
-We will be observing closely to see if it rejects the trendline, desirably with a bearish pin as an entry trigger to confirm our short position.
-Stop loss will be at 65.15, slightly above the 200ema.
-Profit target will be around 61.94 a strong structural support.
DISCLAIMER: Forex trading involves substantial risk of loss and is not suitable for every investor. The valuation of Forex may fluctuate, and, as a result, clients may lose more than their original investment. Above statement act as an idea for reference purposes, kindly perform your own analysis. Trading strategies are used at your own risk.
-We will be observing closely to see if it rejects the trendline, desirably with a bearish pin as an entry trigger to confirm our short position.
-Stop loss will be at 65.15, slightly above the 200ema.
-Profit target will be around 61.94 a strong structural support.
DISCLAIMER: Forex trading involves substantial risk of loss and is not suitable for every investor. The valuation of Forex may fluctuate, and, as a result, clients may lose more than their original investment. Above statement act as an idea for reference purposes, kindly perform your own analysis. Trading strategies are used at your own risk.