Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
the previous consolidation seems to be done as JPY could show more weakness due to rising yields.
The structure and volume for NZD/JPY looks pretty bullish to me and I`d look for a breakout above the current correction in order to follow the primary trend.
A flat-type-correction is always a good sign for accumulation and could soon cause...
Time Frame: 4 Hour
Strategy: Head and Shoulders Bottom (Reversal)
Please note I am only providing my own trading information for your benefit and insight into my trading techniques,
you should do your own due diligence and not take this information as a trade signal.
MACD crossing + hitting support and having a nice bounce to it
Here's what I'm thinking :
ENTRY : 78.867
SL : 78.238
TP : 80.441
Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.