FX.co ★ NZDJPY is facing bullish pressure, potential for further upside!

Price is facing bullish pressure from our first support in line with our horizontal pullback support, ascending trend line, 61.8% fibonacci retracement and 61.8% fibonacci extension where we could see a bounce above this to our first resistance target. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target.

Trading Recommendation

Entry: 74.729

Reason for Entry:

horizontal pullback support, ascending trend line, 61.8% fibonacci retracement and 61.8% fibonacci extension

Take Profit: 75.451

Horizontal swing high resistance

Stop Loss: 74.444

Reason for Stop Loss:

38.2%, 61.8% fibonacci retracement, horizontal swing low support and 100% fibonacci extension