NZDJPY recovery?
NZDJPY briefly broke through support before and then declined. It has quickly approached the price level 87.623 and is attempting to close above. We can see already on the 1hr timeframe that this has happened - a closed rising candlestick above support. This is also a break of the ascending triangle that I have identified.
Reasons to take:
- Stochastics are overbought, above 50, upwards facing (although %D is not yet above %K)
- Momentum is positive and upwards facing.
Entry: 87.722
SL: 87.219
TP: 90.295
Reasons to take:
- Stochastics are overbought, above 50, upwards facing (although %D is not yet above %K)
- Momentum is positive and upwards facing.
Entry: 87.722
SL: 87.219
TP: 90.295
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