London Session Watch NZDJPY

FX:NZDJPY   New Zealand Dollar / Japanese Yen
NZD/JPY formed an inside bar candlestick pattern at the mid band of the bollinger band and there's another bullish pin bar candlestick pattern after the breakout of the inside bar candlestick pattern which shows more buyers are coming in. Note that the stochastic indicator was showing oversold at the time the price formed the inside bar candlestick pattern which adds odds to the buyers here. The recent trend is bullish as the short term moving averages (10 and 20 period) stay above the long term moving averages (50,100 and 200 period) and the Tenken-sen is well above the Kijun-sen. With all the indicators suggesting the price will move higher, we could potentially have long trades in today London session.


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