Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (70.60). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 60.
Take Profits:
TP1= @ 71.60
TP2= @ 72.30
TP3= @ 73.35
SL= Break below S2
. There is a possibility of temporary retracement to suggested support line (70.60). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 60.
Take Profits:
TP1= @ 71.60
TP2= @ 72.30
TP3= @ 73.35
SL= Break below S2