NZDJPY has reached a significant support zone, highlighted by previous price reactions and strong buying interest. This area has previously acted as a key demand zone, increasing the likelihood of a bounce if buyers step in.The current market structure suggests that if the price confirms support within this zone, we could see a bullish reversal. A successful rebound could push the pair toward the 87.300 level, a logical target based on previous price behavior and current market dynamics. Monitoring candlestick patterns and volume at this critical zone is essential for identifying buying opportunities.
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management.
Best of luck!
Trade active
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.