NZDJPY price began to rise after after a long hibernation

  • Jul 06 2021
  • by
  • Analyst AZA
NZDJPY price began to rise after after a long hibernation

NZDJPY price began to rise after after a long hibernation

The price of the New Zealand dollar began to rise against many currencies after a long stagnation. For the NZDJPY currency pair, a trend reversal is observed on the chart. The price was able to overcome the 200 simple average on the 4 hour time frame and continues to rise. The price still has a 40 pips move reserve to the nearest resistance level, at which we recommend taking profits and placing a Take Profit order. If you look at the 5-minute chart, it will be clear that the growing price movement began yesterday with a sharp rise in quotations. Now the inertia of the movement begins to fade away, the MACD indicator shows some divergence. These factors indicate that the trend is still growing, but may turn sideways after the third wave.

Symbol: NZDJPY
Order Type: Pending Order - Buy Stop
Entry Price at 78.8000
Take Profit at 79.2000
Pips Earning: 40

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The profit can be $380.95 if the trading volume of 100000 NZD (1 Lot).

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