NZD/JPY Bearish Break Out

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 By Deya Hroob




This trade set up is based on 4h chart.

NZD/JPY was trading into an ascending channel. On the last trading session last week, a bearish breakout happened. That means, the pair is more likely to go lower.

Traders may wait a retest to the lower boundary of the channel OR a retest to the moving averages to go short.

Our targets will be  69.55 ,then  68.40

If the price breaks above the moving averages, my next short position will be at the resistance line.


Trade Wise and Good Luck, 

 

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