NZD/JPY: Bullish Momentum Holds Despite Short-Term Dip
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Long-term prospects for NZD/JPY remain bullish, despite its current oversold condition. Both monthly and weekly support levels have demonstrated resilience, suggesting a potential for further upside. Confirmation of continued upward movement hinges on the price maintaining a comfortable position above the monthly pivot point (1M PP). Nonetheless, there's a possibility of a retracement to weekly support before resuming the upward trajectory. Overall, the long-term outlook remains favorable with alignment across various indicators.
TradeWithTheTrend3344
Long-term prospects for NZD/JPY remain bullish, despite its current oversold condition. Both monthly and weekly support levels have demonstrated resilience, suggesting a potential for further upside. Confirmation of continued upward movement hinges on the price maintaining a comfortable position above the monthly pivot point (1M PP). Nonetheless, there's a possibility of a retracement to weekly support before resuming the upward trajectory. Overall, the long-term outlook remains favorable with alignment across various indicators.
TradeWithTheTrend3344