NZDJPY ANALYSISMany novice and advanced traders try to complicate trading with complex strategies and indicators. In my experience, trading comes down to three simple things. Support. resistance and breakout. Add some knowledge on reversal ( for fakeouts) and continuation ( for breakouts) candlesticks and you are good. On NZDJPY, last week candle was extremely bullish on high volume. XXX/JPY pairs such as GBPJPY and USDJPY already broke out and I shared the ideas here .
What we are seeing on NZDJPY weekly candle is strong bullish momentum.