Inside Bar on NZD/JPY

Inside Bar on NZD/JPY

The NZD/JPY currency pair is consolidating after a continuous fall. The current technical pattern signals a correction movement. A classic pattern of Price Action, Inside Bar, (H4 timeframe), has been formed in the trading instrument, which currently indicates the bullish sentiment. The NZD/JPY currency pair is testing a local resistance level of 68.100. We recommend paying attention to this situation.

If the price fixes above 68.100, NZD/JPY purchases should be considered. The immediate goal for profit taking is 68.750. The movement is tending to 69.600-70.000. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.10.10

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
How to learn forex trading in Kenya
Find out more about the advantages of trading in the forex market and the ways you can feel comfortable and confident as a novice trader. Start forex trading in Kenya and get to the desired top.
Read more