• Vasily Trader

NZDJPY: Potential Structure Trade Explained

NZDJPY is growing sharply during the last two weeks.

This morning a 78.0 level was reached.

Being a strong daily structure resistance I am looking for shorting opportunities from there.

The pair is currently growing within a rising parallel channel .

Being within the market remains bullish .

We need its bearish breakout (4H candle close below its support) to confirm a reversal.

Goals will be 76.8/76.3

In case of a bullish breakout of a yellow zone,

the setup will be invalid.