NZDJPY - Waiting for Bulls to Step In!NZDJPY has been trading within a broad ascending channel and is now approaching a strong demand zone that aligns with the channel’s lower red trendline.
This area has acted as a solid base in the past, and as price retests it once again, it could serve as the starting point for a new bullish swing.
As long as the blue demand zone holds, I’ll be watching for bullish reversal signals to look for long opportunities, with potential short-term targets toward 87.50 and 88.80, where previous supply and the upper boundary of the channel intersect.
However, if the price breaks below 85.00, the bullish structure would weaken, and a deeper correction could follow before buyers regain control.
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr
