The NZDJPY use the Yen's weakness

  • Apr 30 2021
  • by
  • Analyst AZA
The NZDJPY use the Yen's weakness

The NZDJPY intends to take advantage of the Yen's weakness.

The Japanese Yen is losing ground against almost all other currencies. In this case, the chart shows a strong resistance level. When it breaks out, you can open an order to buy this currency pair with a high probability that the price will reach our Take Profit. Therefore, you need to wait until the price can move higher before opening a position. The price and the MACD indicator are above zero levels, which indicates a growing trend for this trading instrument.

Symbol: NZDJPY
Order Type: Pending Order - Buy Stop
Entry Price: 79.20
Take Profit: 80.00
Pips Earning: 80

The profit can be $761.90 if the trading volume of 100000 NZD (1 Lot).


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