Buy NZDJPY Bullish Channel

The NZD/JPY pair on the M30 timeframe presents a potential buying opportunity due to a well-defined bullish channel pattern. This pattern suggests ongoing upward momentum and a higher likelihood of further advances in the coming minutes or hours.

Key Points:

Bullish Channel: The price has been trading within an upward-sloping channel defined by two converging lines: a rising support line and a rising resistance line. This ongoing uptrend signals continued buying pressure.

Buy Entry: Consider entering a long position around the current price of 90.05, which sits close to the channel support. This could offer an entry point near a potential continuation of the upward move.

Target Levels: Initial bullish targets lie at the resistance levels of 90.73 and 91.06, marking previous resistance zones within the channel.

Stop-Loss: To manage risk, place a stop-loss order below the support line of the broken channel, around 89.85. This helps limit potential losses if the price reverses and breaks back down.

Thank you

Trade active

Trade closed manually:

with small profit and taken sell entry in GBP/JPY today