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Consolidation Breakout?

NZDJPY

Good day traders! It looks like the NZD/JPY will finally break out of the consolidation pattern that it was stuck in for more than a month and I still consider the price structure, from the 26th of August low, as a correction within a larger bearish cycle.

I narrowed my initial entry zone, since my last update, to now fall between 70.15 – 70.70 and if price reverses from there, then price could trade lower towards my center median line around 69.09 or even lower towards 67.62.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 25, 2019
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