Hello Traders,
Opportunistic Wednesday is here again, but I am afraid we have just one currency pair to analyse for today.
If you have been following our analysis, you will observe that all our trade setups from Sunday till date have been doing greatly. Some of the setups are almost hitting their target profit, while others are still very much viable.
For today, we got…
1. NZD/JPY
NZD/JPY is no stranger to us, we have been on this pair’s case since on the 6th of January. You can check here.
Presently, price on the 4 hours chart is locked within an ascending channel. However, on the daily chart, this pair is bullish. That said, the pair is currently obeying a minor resistance level (74.431) on the daily chart.
A breakout from the present ascending channel may encourage the sellers to take price to the next support level (72.896). If the current support level (73.701) within the ascending channel is strong enough, we may see price head back to a previous resistance level (74.431).
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Do have an awesome day ahead ladies and gentlemen.
