NZD/JPY Trading Analysis (23/04/2025)
The bulls tested the resistance level at 85.230. The pair is trading between 365 and 135 EMAs. The rising wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.
Trade idea:
- Sell when the formation of the downward wave structure, when the wave A breaches the sloping channel of the ascending truncated structure.
- Stop-loss at 85.230.
- Price targets at 83.00 and 81.10.
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