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NZDJPY: Two Scenarios & Your Trading Plan (indecision)



Very peculiar market sentiment on NZDJPY:

the price is trading in a long term bullish trend

and currently testing a current year's high.


Being a trend follower,

to catch the next swing move, follow an ascending triangle .

In case of a bullish breakout of its neckline,

chances will be high to see a continuation to new highs (at least 80.7)


Being a counter trend trader,

wait for a bearish breakout of a rising parallel channel .

It will most likely trigger a retracement leg at least to 78.0 level.



Are you on trend following side or do you prefer a counter trend trading here?

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