brendantimmons

brendantimmons

We are approaching a resistance level for a downward channel that NZDJPY has been trading within for the better part of a year. I will be looking for price to test that line and ultimately close below it for a short. Or possibly a confirmed break above the line would be a chance for a long trade. FX:NZDJPY

brendantimmons

NZD USD has broken below the upwards channel it was trading in, we could see a nice opportunity to short as it retests the now resistance trend line. Before you trade I would recommend waiting for a confirmation candle that attempts to push above the trendline but fails to close above.