NZDJPY upside resistance breakout
NZDJPY is breaking above the strong upside resistance of 75.50 for a continuation higher. A confirmed break above this resistance is leading to a continuation higher to the 76-78 zone. A rejection here and a break below 74.70 could lead to a reversal lower. The overall medium-term is uptrend but we need this break above 75.50 confirmed for a high probability upside extension. As long as the NZDJPY is above 74.70 there is a high probability that it will have an upside extension targeting 78.
Note – We are inclined to long trade entries with the stop loss below 75.
If you want to learn trading analysis and how to get to key trading levels like in this article register for Private Live mentoring with your trading evaluation.