NZD/JPY 30-Minute Chart – Bearish Focus
This chart highlights a potential selling setup for the NZD/JPY pair on the 30-minute timeframe. Key insights include:
Supply Zone at 88.800:
Price recently tested a key supply zone near 88.800, where strong selling pressure is likely to emerge.
Bearish Ascending Wedge:
The current price action is forming a small ascending wedge pattern, a bearish reversal structure, indicating a potential breakdown.
Potential Sell Setup:
A break below the ascending trendline could confirm selling momentum.
The first target is the 87.600 level, with an extended move toward the demand zone around 87.200.
Risk Management:
Stop-loss placement above the supply zone near 88.800 is recommended to protect against invalidation.
This setup provides a bearish outlook, with sellers waiting for confirmation of a trendline break before entering short positions.
Supply Zone at 88.800:
Price recently tested a key supply zone near 88.800, where strong selling pressure is likely to emerge.
Bearish Ascending Wedge:
The current price action is forming a small ascending wedge pattern, a bearish reversal structure, indicating a potential breakdown.
Potential Sell Setup:
A break below the ascending trendline could confirm selling momentum.
The first target is the 87.600 level, with an extended move toward the demand zone around 87.200.
Risk Management:
Stop-loss placement above the supply zone near 88.800 is recommended to protect against invalidation.
This setup provides a bearish outlook, with sellers waiting for confirmation of a trendline break before entering short positions.
Trade closed: target reached
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.
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.