We're looking at NZD/JPY on the daily chart with a potential bullish 5-0 pattern, this is an excellent buying opportunity with over 1:3 risk to reward... Keep an eye on this setup completing!
The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50
Price has formed a cup and handle pattern which indicates a move higher to complete the C point, you can buy once price closes above the resistance level or wait until the bullish 5-0 pattern completes to enter your position.
I hope you all have a great week, safe trading everyone :)