NZDJPY - The road not taken.
Price is currently resting on resistance line 78.000 which also happens to be a psych level. Now depending on future volatility;
1. Price goes up, tries to break descending trendline. If there is a significant price action signal on the breakout, longs may prolong until the 80.670s.
2. Resistance fail to feed the bulls, bears takeover, breakout to the bottom. Depending on price action, entry may be taken after a few days on correction period.
1. Price goes up, tries to break descending trendline. If there is a significant price action signal on the breakout, longs may prolong until the 80.670s.
2. Resistance fail to feed the bulls, bears takeover, breakout to the bottom. Depending on price action, entry may be taken after a few days on correction period.
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.