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.

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