Currently, NZD/JPY is trading at 68.53. The pair is consolidating in the resistance and support wedges
. Previously, the pair was trading in a down trend and after touching the support level
it started consolidating in the resistance and support levels. If the price breaks the resistance level
at 69.54, then it may start a new up trend and its target price will be at 71.42. If the price breaks the support level
at 68.13, then it may start a new down trend and its target price will be at 66.48.
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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