NZDJPY: Use the 1D MA50 as the pivot level for your trades.

2023年7月17日

NZDJPY is trading inside a Channel Up since March with the 1D timeframe neutral (RSI = 52.530, MACD = 0.380, ADX = 27.602) after last week's rebound on the 1D MA50. This tells us that this is the technical pivot and as long as it holds the new Higher Low for the Channel Up, hence a bullish signal targeting the R1 (TP = 89.675).

If the price crosses under the S1 (86.235) this bullish signal will be invalidated and we will sell, targeting the S2 (TP = 83.550).

An early sell confirmation may come when the 1D RSI crosses under its HL trendline.

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