It may seemed on Wednesday that NZDJPY was awaiting a deeper correction. On Tuesday a candle with long upper shadow was formed, which can be considered as a inaccurate pin bar. As expected on Wednesday bears took action, resulting in a red candle. But today situation has changed radically. Instead of deepening the declines and further drops, supply was trapped in a low opening, after which dynamic growth started. Currently all scenarios are in-game.
Effective breakthrough of resistance at 80.70 should lead to continuation of growth (possibly even more dynamic than before) including reaching this year’s highs. However, if demand will be defeated, the supply will target support area at 79.55 – 79.30.
YOU CAN START TRADING ON FOREX MARKET USING FREE Windsor Brokers ACCOUNT
