NZD/JPY technical analysis, trading idea, and chart

The currency pair is trading in the range of the lower boundary of the ascending price channel. The descending wave structure is truncated. The Awesome Oscillator indicator shows bullish divergence, and the Stochastic Oscillator indicator signals oversold.

Trading idea:

Buy on the formation of an ascending wave structure, where wave (A) breaks the inclined channel of the descending truncated structure.

Stop Loss under the local minimum of the downward structure.

Target levels: 82.50; 84.00.