NZD/JPY is currently in a consolidation period on the D1 timeframe. If price breaks through the D1 resistance then a long entry will be on the table. If price holds and breaks previous support, then we should see a nice entry for a short position.
Looking at the overall technical analysis from our charts, we see that NZD/JPY is in an overall Buy Zone, but moving to a neutral state.
If price breaks to the downside and candle body holds below support of 74.96342, then a short entry with targets of 74.453704 – 73.402 will be the goal.
If price breaks to the upside and the candle body holds above resistance of 76.534178, then a long entry with targets of 76.981479 – 77.876083 will be our target.
Cheers to another successful week!