Currently, NZD/JPY is trading at 70.43. The pair may start a new down trend if it breaks the neck line at 70.21. Previously, the pair was trading in an up trend by making higher-high lower-low pattern in the resistance and support wedges
. If the pair starts a new down trend after breaking the neck line, then its 1st target price will be at 69.27 and 2nd target will be at 68.69.
Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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