NZDJPY consolidation triangle breakout
NZDJPY is breaking above the consolidation triangle resistance 74. A confirmed continuation here is giving us a higher probability of the long trade entries to target higher. A rejection here and a break below 74 is now required for the downside reversal and a larger pullback. The overall medium-term is uptrend and we are seeing a confirmed continuation above 75 for an extension higher. Continuation higher here means we will target 80-82 zone.
Note – We are inclined to long trade entries with the stop loss below 75.
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