Currently, NZD/JPY is trading at 69.60. The pair is trading in a resistance and support channel from some time and now moving towards the at 69.00. It may rebound back after touching to again move towards at 72.00. Until it breaks resistance or , it will hover in this channel. So, do have this pair in your watch list and wait for the right price to enter.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don’t risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.