Can’t decide whether you’re a range or trend playa? Be both this week!
NZD/JPY just popped up a long-legged doji right as it hit a range support that’s been around since the start of the year AND a trend line support that hasn’t been broken since May 2020.
The cherry on top of this sweet setup is the 200 SMA chillin’ around NZD/JPY’s current levels.
A bounce from the 75.50 – 76.00 zone could lead to a retest of the 79.00 or 80.00 previous highs.
A clear downside breakout, on the other hand, could mean that NZD/JPY is ditching its year (plus a few months)-long uptrend.
NZD/JPY just popped up a long-legged doji right as it hit a range support that’s been around since the start of the year AND a trend line support that hasn’t been broken since May 2020.
The cherry on top of this sweet setup is the 200 SMA chillin’ around NZD/JPY’s current levels.
A bounce from the 75.50 – 76.00 zone could lead to a retest of the 79.00 or 80.00 previous highs.
A clear downside breakout, on the other hand, could mean that NZD/JPY is ditching its year (plus a few months)-long uptrend.