NZDJPY: Potential Pullback Trade Long
New Zealand Dollar/Japanese YenFXCM
Description
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NZDJPY is trading within a wide horizontal trading range on 4h/1h charts.
This night the price reached its support.
To catch a pullback from the underlined structure with a confirmation,
wait for a bullish breakout of a resistance line of a falling wedge pattern.
Then buy on a retest of the last lower high.
First goal - 77.35
In case of a bearish breakout of the yellow zone, the setup will be invalid.
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only then we buy!