After experiencing a fairly sharp decline earlier, the price of the NZD/JPY currency pair is currently showing the potential to reverse upwards. This reversal signal began to be seen from the technical structure formed.
The price strengthening is supported by a double bottom pattern, which is a classic signal of reversal from bearish to bullish. In addition, the appearance of a swing low also strengthens expectations that buying pressure is starting to strengthen again and is ready to push prices to higher levels.
As long as prices stay above the main support area, the potential for continued gains is considered quite solid.
Recommendation:
- Buy NZD/JPY
- Entry: 88.165
- Take Profit 1: 88.565
- Take Profit 2: 88.965
- Stop Loss: 87.765
*DISCLAIMER: All content in daily forex news is informative. PT. Maxco Futures does not guarantee its accuracy and completeness. The company is not responsible for investment losses due to the use of the information contained.
