NZDJPY: Potential Trend-Following Trade Explained 🇳🇿🇯🇵
Hey traders,
NZDJPY is accumulating on a key level.
The market is coiling within a narrow range on 1H time frame.
Taking into consideration that the pair is trading in a long-term bullish trend,
I will be waiting for a bullish breakout of the resistance of the range as a confirmation to buy.
Wait for an hourly candle close above 85.6 - 85.68 area,
then buy aggressively or on a retest.
Goals will be 86.0 / 86.3
If the price breaks a support of the range, the setup will be invalid.
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