NZDJPY TO RETRACE ABOUT 4.53% BEFORE SEEING A NEW HIGH.
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NZDJPY in the weekly is overall bullish, price filled the weekly OB now moving towards the overall resistance at 93jpy.
In the daily. price broke out a structure labelled "CREEK" went for a retest, broke past to fill up the order block @ 0.382 fib and was able to grab liquidity from there to trade above 83jpy.
Price is currently lying at the @ 83jpy resistance, am expecting price to respect the current resistance by retracing about 4.53% lower before the rally continues.
Scalp traders should look for short positions during this period.
Pls remember to always follow your trading plan regarding entry, risk and trade management.
Goodluck!
NZDJPY in the weekly is overall bullish, price filled the weekly OB now moving towards the overall resistance at 93jpy.
In the daily. price broke out a structure labelled "CREEK" went for a retest, broke past to fill up the order block @ 0.382 fib and was able to grab liquidity from there to trade above 83jpy.
Price is currently lying at the @ 83jpy resistance, am expecting price to respect the current resistance by retracing about 4.53% lower before the rally continues.
Scalp traders should look for short positions during this period.
Pls remember to always follow your trading plan regarding entry, risk and trade management.
Goodluck!
