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NZDJPY: Two Scenarios & Your Trading Plan 🇳🇿🇯🇵

Oleh VasilyTrader
syot kilat

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?

Chart PatternsForexNZDJPYTechnical AnalysistradingTrend AnalysisWave Analysis
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