NZDJPY: Key Structure Ahead! Your Plan: 🇳🇿🇯🇵

4 thg 8, 2022

NZDJPY is approaching an important zone of confluence on a daily.
We see a perfect match between a horizontal structure resistance and 618 retracement of the last bearish impulse.

To catch a bearish move from the underlined zone, watch a rising wedge pattern on 1H time frame.
Your trigger to short will be its bearish breakout (at least an hourly candle close below its support).

Then a bearish continuation will be expected to 84.2 level.

Alternatively, a bullish breakout of the underlined area will push the market to higher structure levels.

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