NZD/JPY: 1-hour
If you think the trend is your friend, you might wanna look at this rising trend line play on NZD/JPY’s 1-hour forex chart. The pair has been on an uptrend for the past few days and may be ready to resume its climb if the trend line, which lines up with the 50% Fibonacci retracement level, holds as support. In addition, stochastic made lower lows while price created higher lows, forming a bullish divergence and hinting at a potential rally. Better make sure that this setup meets the 9 Rules for Trading Divergences if you’re planning on catching a long trade.
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