NZDJPY: Cup and Handle Spotted!

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here's my point of view about NZDJPY , As always this is not any financial advise.
This setup can be invalidated according to the market conditions.

fundamentals:

The NZD/JPY retreats from weekly tops after inflation in the United States reaches 7.5%, a level last seen in August 1982, causing a sell-off in the US equity markets amid a risk-off market mood. Despite the aforementioned, the NZD/JPY clings to gains, trading at 77.41 at the time of writing.

During the North American session, financial markets have been volatile. High elevated prices, reported by the US Labor department, increased the odds of the US central bank’s 50 bps rate hike. Initially, the US Dollar Index, a gauge of the greenback’s value against its peer, shot through the roof, followed by a fall to the 95.40 area for a 0.20% loss.

technicals

Cup and handle and valid demand level. potential continuation to the upside

Kommentera:

no trades taken = invalidation