Sell NZDJPY Triangle Breakout

٢٦ يناير

A bearish triangle pattern has emerged on the NZD/JPY 30-minute chart, signaling a potential decline in the pair's value.

Key Points:

1. Triangle Breakout Pattern:
The pair has been consolidating within a triangle formation, characterized by converging support and resistance lines. This often indicates indecision before a decisive move.

2. Sell Entry Opportunity:
A break below the lower support line of the triangle, around 90.10, could signal a bearish breakout and offer a potential sell entry.

3. Bearish Targets:
If the breakout materializes, initial bearish targets could be found at the support levels of 89.56 and 89.20.

4. Resistance Level:
The resistance level at 90.40 may act as a barrier to further upward movement, reinforcing the potential for a downside breakout.

5. Risk Management:
A stop-loss order could be placed above the upper resistance line of the triangle to manage risk in case the breakout fails.

Fundamental Updates :
Weaker New Zealand Trade Data: New Zealand's trade deficit widened in December, potentially weakening the Kiwi Dollar against the Yen.

Risk Aversion: Recent geopolitical tensions and concerns about global economic growth could trigger risk aversion, pushing investors towards safe-haven currencies like the Japanese Yen.

Thank you

٢٦ يناير

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