Very peculiar market sentiment on NZDJPY: the price is trading in a long term bullish trend and currently testing a current year's high.
Being a trend follower, to catch the next swing move, follow an ascending triangle. In case of a bullish breakout of its neckline, chances will be high to see a continuation to new highs (at least 80.7)
Being a counter trend trader, wait for a bearish breakout of a rising parallel channel. It will most likely trigger a retracement leg at least to 78.0 level.
Are you on trend following side or do you prefer a counter trend trading here?
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