NZDJPY key level breakout
NZDJPY is breaking below the 69 horizontal key long-term resistance. This break is opening a possible further downside extension. As long as the pair is below the 69 level look for more downside.
On a daily chart, we can see a descending triangle is broken to the downside. This is providing an excellent trading opportunity with a good risk to reward short entry. Look for the short trade entries with the stop loss above 69.250 targeting 65 and lower. ARMAT trading system is indicating a potential 200 pips of profit.
We have used the combination of the top-down trading analysis to get these key levels explained in the charts.
Happy trading! (click on the chart to enlarge it)
10 DAYS TRIALTRY OUR SERVICES FOR 10 DAYS!
10 DAYS TRIAL
TRY OUR SERVICES FOR 10 DAYS!