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Nzdjpyshort
NZD/JPY Technical Analysis.Currently, NZD/JPY is trading at 66.68. The pair is trading in an up trend from 18th May after breaking resistance level at 63.98. Although, the pair has already touched its resistance level and is now moving in a sideways trend. It may start a new down trend if it breaks the neckline at 66.40, the first target will be at 65.01, and the second target at 64.15.
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Rishikesh Lilawat
NZDJPY Short in the coming daysAs you can see, we broke a resistance zone that was holding price in for weeks. We saw a stop loss hunt of sellers who shorted at the resistance zone . We might see price either retest the resistance zone and continue it's way to the upside or we might see price just dropping below, and taking out potential buyers that will enter the market at the previous Resistance, now Support zone . Let's see how price moves now. We could enter a trade right now and wait for price to drop , and either coming back up, or breaking below and taking out buyers that will enter the market.
NZDJPYCurrent position taken on NZDJPY, risk free and moving. Please feel free to leave a comment and share your thoughts.
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This information given is not Financial Advice.