NZD/JPY on the 1D time-frame. If the market continues to rise towards this strong historical resistance level, a short (sell) opportunity will then arise. As the market has been rejected by this level every time since 2014, meaning there is a high probability that this will occur again. A trade like this can offer a significant risk/reward ratio.
Disclaimer: This is simple technical analysis. Fundamentals & technical indicators should also be considered before entering a trade like this. If you would like to receive weekly analysis like this, with an in-depth fundamental and technical analysis breakdown. Please message us or follow us on Instagram at blackbaytrading_charts
Disclaimer: This is simple technical analysis. Fundamentals & technical indicators should also be considered before entering a trade like this. If you would like to receive weekly analysis like this, with an in-depth fundamental and technical analysis breakdown. Please message us or follow us on Instagram at blackbaytrading_charts