Based on my technical analysis I have identified potential buying opportunities for the NZD/JPY currency pair. These opportunities arise after observing a Break of Structure on the daily time frame which signifies a significant shift in market dynamics. Additionally this break aligns with an institutional round number of 86.700 which often acts as a significant support or resistance level.
Furthermore on the 4-hour timeframe there is a bullish order block that further strengthens the likelihood of an upward movement in price. This order block suggests that there is a cluster of buy orders accumulated at a specific price level which could potentially fuel a bullish momentum.
Overall the combination of the Break of Structure on the daily timeframe in conjunction with the institutional round number at 86.700 and the presence of a bullish order block on the 4-hour timeframe indicates several compelling buy setups for the NZD/JPY currency pair.
Furthermore on the 4-hour timeframe there is a bullish order block that further strengthens the likelihood of an upward movement in price. This order block suggests that there is a cluster of buy orders accumulated at a specific price level which could potentially fuel a bullish momentum.
Overall the combination of the Break of Structure on the daily timeframe in conjunction with the institutional round number at 86.700 and the presence of a bullish order block on the 4-hour timeframe indicates several compelling buy setups for the NZD/JPY currency pair.
Trade closed: target reached