Evening Traders,
Today’s analysis – NZDJPY- trading at a ley trade location where a bounce is probable,
Points to consider,
- Price Action Corrective
- Local OB Support
- Daily S/R Objective
- RSI Extended
- Declining Volume
NZDJPY’s immediate price action is trading at an area that is in confluence with an order block and a potential swing failure, allowing for a bullish bias.
The Daily S/R is the immediate objective, exceeding this level will lead to a trend continuation.
The current RSI is overextended, a reversion back to its mean will happen on the price action rise.
Overall, in my opinion, NZDJPY is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Trading effectively is about assessing probabilities, not certainties.”
― Yvan Byeajee
Today’s analysis – NZDJPY- trading at a ley trade location where a bounce is probable,
Points to consider,
- Price Action Corrective
- Local OB Support
- Daily S/R Objective
- RSI Extended
- Declining Volume
NZDJPY’s immediate price action is trading at an area that is in confluence with an order block and a potential swing failure, allowing for a bullish bias.
The Daily S/R is the immediate objective, exceeding this level will lead to a trend continuation.
The current RSI is overextended, a reversion back to its mean will happen on the price action rise.
Overall, in my opinion, NZDJPY is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Trading effectively is about assessing probabilities, not certainties.”
― Yvan Byeajee