Hello traders, NZD/JPY is trading at 76.24. The price is trading in upward resistance and support channel and rebounding back from its resistance level. As the price has already rebound back from its resistance level , if it breaks 76.21 price level it can touch support level . So, the entry price for short will be 76.21 first target will be at 75.81 and second target at 75.20.

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.

Thank you,

Rishikesh Lilawat

Rishikesh Lilawat
Rishikesh Lilawat

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.