NZDJPY: Potential Trend-Following Move 🇳🇿🇯🇵

11 May 2022

I see a potential trend-following trading setup on NZDJPY:
the pair is trading in a strong bullish trend.
Setting a new high, the price retraced to a key level.

To buy with a confirmation I am waiting for a breakout of a neckline of a double bottom formation on 1H.
Once I see an hourly candle close above that I will buy on a retest.

Intraday targets will be 82.8 / 83.34

If the price breaks a blue zone to the downside,
a further decline will be expected.

❤️If you have any questions, please, ask me in the comment section.
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12 May 2022

Not

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