FX.co ★ NZDJPY is facing bullish pressure from support, potential bounce!

Price is facing bullish pressure from our first support and ascending trend line where we could see a bounce above this level to our first resistance target. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.

Trading Recommendation

Entry: 74.530

Reason for Entry:

Ascending trend line, horizontal overlap support, 38.2%, 61.8% fibonacci retracement, 61.8% fibonacci extension

Take Profit: 75.043

Horizontal overlap resistance, 50% fibonacci retracement

Stop Loss: 74.151

Reason for Stop Loss:

78.6% fibonacci extension, 78.6% fibonacci retracement