NZDJPY: Bullish Setup from Key Demand Zone
The NZDJPY pair is approaching a significant demand zone, marked by prior price reactions. This area has previously acted as a strong support level, where buyers regained control.
The current market structure indicates the potential for a bullish continuation from this zone. If the price confirms a rejection through bullish price action, such as a strong bullish engulfing candle or long wicks rejecting the support, I anticipate a move toward the 88.450 level. This is a logical target for this setup aligned with the short-term bullish momentum and price recovery from the demand zone.
If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!
The current market structure indicates the potential for a bullish continuation from this zone. If the price confirms a rejection through bullish price action, such as a strong bullish engulfing candle or long wicks rejecting the support, I anticipate a move toward the 88.450 level. This is a logical target for this setup aligned with the short-term bullish momentum and price recovery from the demand zone.
If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!
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