ZARJPY Bumb and Retest

These exotic FX pairs are more tricky to trade, but there is a potential nice setup here in the making. It has made a huge drop past 2 months for FA reasons, but there is a chance we might see a bigger consolidation or correction up this time. There was strong move up 2 weeks ago but came back down all the way again, but in a much slower pace though, which could be a sign. Now ideally we see it test that curved shape on the right a bit more coming days, but it is very important to see the green zone hold. If that breaks, anything is possible.


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Comment:

Looks decent, but the breakout if kinda weak and slow, so good chance it will still test the lows as that blue line suggested. So think gonna wait a bit more here

Comment:

So played out quite nicely, could be that a flag or something might be formed now. Would say first target zone is reached, so suggest to take at least partial profit here and then wait. There is a lot more potential, but for that the red on the left needs to break with a big rally. The blue on the left should not break anymore