The NZD/JPY currency pair is currently showing signs of bullish momentum. This potential upward movement is supported by the formation of a double bottom chart pattern, which is a classic signal of trend reversal from bearish to bullish.
In addition, a bullish candlestick confirmation and the presence of a swing low further strengthen the case for continued upward movement, indicating increasing buying interest.
As long as the price holds above the key support level, the bullish outlook remains intact.
Recommendation:
- Buy NZD/JPY
- Entry: 87.800
- Take Profit 1: 88.200
- Take Profit 2: 88.600
- Stop Loss: 87.400
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