This week I want to update my trading analysis journal for the NZDJPY pair
NZDJPY for a few days even a few weeks is still in the consolidation range (sideway) and makes traders hesitate to enter the market. I see it from a different perspective, this week's closing is the beginning of this pair's upward movement,
On the H4 chart we can see the price level of 70,600 entering the uptrend stage because it made a new lower high. And tomorrow Monday we can open a buy transaction there with a target in the GAP area that has not been filled at the 71,900 price level, of course the current conditions are very favorable for those of us who understand technical analysis.
A buy signal at the price of 70,600
Stop loss at 69,800
Take profit at the price of 71,900