Fx-AlphaStrats
Long

NZDJPY descending wedge formation

FX:NZDJPY   New Zealand Dollar / Japanese Yen
A descending wedge formation, have formed.

The price have been in a down trend, since end of January.
The price have hit a support level from december 2017.
and can be signalling a short term revers in the trend.

If the price breaks the wedge . Point ((c)) will be the reversal level, where
The resistance line in the wedge will be the TP

For now its a long setup, with entry at this level and SL at 74.961.

_____

1. descending wedge formation, with correlated Wave´s
2. Bullish divergence . ( the the green line in the RSI and Chart)
3. Supportlevel have been hit.
4. Bullish morning star formation.



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