NZD/JPY Upside Pressure!
The NZD/JPY pair jumped higher and now is trading at 84.38. As you can see on the H1 chart, the rate moved sideways above 83.61 confirming this level as a downside obstacle. The uptrend line represents a downside obstacle as well. So, as long as it stays above these levels, the currency pair should resume its growth.
The next upside target is represented by the 84.96 level (former high / historical level). As you can see on the H1 chart, the rate moved somehow sideways between 81.16 and 84.96. Staying near 84.96 could announce an upside breakout from this range.
NZD/JPY Trading Conclusion!
Testing and retesting 83.61 signaled an upside momentum. Passing and stabilizing above the 84.96 activates further growth and represents a buying opportunity.
