NzdJpy- New leg of correction?
There have been 3 fabulous months for NzdJpy (In fact for all JPY pairs), with the pair gaining around 1200 pips, but more importantly, more than 15% (a lot for a forex pair).
As it was normal after such a run, after reaching 87 figure, the pair dropped hard, making the first leg of correction.
Now the pair is in recovery again and a new leg down can follow.
Resistance lies between 84.50 and 85.00 and in this zone, I will look to sell.
On the other hand, NzdJpy back above 85.50 could mean the resumption to the long-term bull trend.
As it was normal after such a run, after reaching 87 figure, the pair dropped hard, making the first leg of correction.
Now the pair is in recovery again and a new leg down can follow.
Resistance lies between 84.50 and 85.00 and in this zone, I will look to sell.
On the other hand, NzdJpy back above 85.50 could mean the resumption to the long-term bull trend.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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