NZDJPY - Potential bounce to 85.300 from Support

8 Apr

NZDJPY has reached a major support level, an area where buyers have previously shown strong interest. This zone has acted as a key zone, increasing the likelihood of a bounce if buyers step in.

A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would strengthen the case for a move higher. If buyers take control, the price could bounce toward the 85.300 target. However, a decisive breakdown below this support would invalidate the bullish scenario and could lead to further downside.

This isn’t financial advice, just my take on how I approach support and resistance zones. Best to wait for clear confirmation, like a strong rejection or a volume spike, before making a move.

Every trader has a unique perspective. Let’s discuss this setup within the TradingView community!

9 Apr

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