Good morning traders, today we will analyze the NZD / JPY pair in both daily and 4H charts so that you can see what we expect in the short term in this instrument.
🔸First of all, we want to mark that for most of the year 2020 and so far in 2021, the NZD/JPY is in a strong bullish movement.
🔸It recently broke a strong Resistance zone, and retested it last week, where there was a remarkable upside rejection.
🔸If we decrease the timeframe to 4H, we see a perfect corrective pattern, where the trendline of the move was broken, so we can expect an upward continuation towards the next resistance in the short term.
🔸First of all, we want to mark that for most of the year 2020 and so far in 2021, the NZD/JPY is in a strong bullish movement.
🔸It recently broke a strong Resistance zone, and retested it last week, where there was a remarkable upside rejection.
🔸If we decrease the timeframe to 4H, we see a perfect corrective pattern, where the trendline of the move was broken, so we can expect an upward continuation towards the next resistance in the short term.