NZDJPY Will Move Higher! Long!

13 May 2023

Take a look at our analysis for NZDJPY.

Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is approaching a significant support area 84.029.

The above observations make me that the market will inevitably achieve 84.890 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

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