FX.co ★ NZD/JPY: downside movement ends

NZD/JPY New Upwards Movement!

The NZD/JPY pair registered a strong growth and now is located at 88.32 at the time of writing, far above Friday's low of 85.34. As you can see on the H1 chart, the rate jumped above the downtrend line and through 87.95 former high.

Technically, these represented upside obstacles, so jumping above signaled that the downside movement ended and that the buyers should drive it towards new highs. Still, after such an impressive growth, the NZD/JPY pair could come back to test and retest the broken upside obstacles before resuming its growth.

NZD/JPY Trading Conclusion!

Jumping above the downtrend line and above 87.95 activated further growth. This was seen as a potential buying opportunity.