NZD/JPY: 4-hour
Last but not least is my favorite break-and-retest setup playin’ out on NZD/JPY’s 4-hour forex chart! The pair recently surged past resistance around the 91.50 minor psychological level and zoomed towards the 92.00 mark before pulling back. From there, price retreated to the 38.2% Fibonacci retracement level, which coincides with the former resistance area. If this holds as support, NZD/JPY might climb back to the previous highs or even create new ones. Stochastic is still moving down though, suggesting that a deeper correction to the next Fib levels might be in order.
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