NZDJPY / H1 / Daily Forex Technical Analysis / 10.23.2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is October 23rd, 2019 and we will be taking a look at the New Zealand Dollar against the Japanese Yen. Looking at the 1 hour time price action is nearing it's previous area of resistance at the 69.6 region, if we continue to move upwards moving back above the trend line and our stop loss this would negate our analysis. If we fail to break above this resistance at the 69.6 area we will be looking for an entry short. Entry for a Short position near the 69.587 area, with a Stop Loss near the 69.820, and a target profit level area of 69.016 for what can possibly be a profitable trade with a 2.45 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
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