NZD/JPY Breakout and Retest
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The NZD/JPY currency pair recently displayed a promising price action pattern, as it broke out of a triangular consolidation pattern and successfully retested a significant support level at 85.00. This technical development suggests a potential bullish momentum for NZD/JPY, providing us with an opportunity to capture potential gains.
The breakout above the upper trendline of the triangle signifies a shift in market sentiment, indicating that buyers have gained control over sellers. Moreover, the subsequent retest of the 85.00 support level reinforces the significance of this area and suggests that it could serve as a strong foundation for further upward movement.
With the bullish bias established, we can consider targeting three specific levels as potential profit objectives. These targets are determined based on previous resistance levels:
TARGET 1 : 85.82
TARGET 2 : 86.30
TARGET 3 : 86.84
The breakout above the upper trendline of the triangle signifies a shift in market sentiment, indicating that buyers have gained control over sellers. Moreover, the subsequent retest of the 85.00 support level reinforces the significance of this area and suggests that it could serve as a strong foundation for further upward movement.
With the bullish bias established, we can consider targeting three specific levels as potential profit objectives. These targets are determined based on previous resistance levels:
TARGET 1 : 85.82
TARGET 2 : 86.30
TARGET 3 : 86.84
Commentaire
Halfway to Target 1. My SL is at entry pointCommentaire
Still activeCommentaire
TP1 has been hit during asian session !Commentaire
TP2 HITCommentaire
Halfway to TP3., almost there! A bit more patienceCommentaire
TP3 HITTrade fermée: cible de profit atteinte
FULL TARGET. Thanks for following!
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