Sell NZD/JPY Channel Breakout
Updated
The NZD/JPY pair on the H1 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 97.55, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 96.95
2nd Support – 96.53
Stop-Loss: To manage risk, place a stop-loss order above 97.95. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Key Points:
Sell Entry: Consider entering a short position around the current price of 97.55, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 96.95
2nd Support – 96.53
Stop-Loss: To manage risk, place a stop-loss order above 97.95. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
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